HighTower Advisors LLC Has $23.04 Million Position in PACCAR Inc (NASDAQ:PCAR)

HighTower Advisors LLC lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 221,513 shares of the company's stock after selling 10,885 shares during the quarter. HighTower Advisors LLC's holdings in PACCAR were worth $23,042,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PCAR. Principal Financial Group Inc. boosted its position in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after purchasing an additional 178,813 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of PACCAR by 1.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 79,485 shares of the company's stock worth $7,844,000 after buying an additional 1,249 shares during the last quarter. KBC Group NV lifted its holdings in shares of PACCAR by 50.4% during the third quarter. KBC Group NV now owns 241,097 shares of the company's stock worth $23,792,000 after buying an additional 80,749 shares during the last quarter. Metis Global Partners LLC lifted its holdings in shares of PACCAR by 1.8% during the third quarter. Metis Global Partners LLC now owns 16,751 shares of the company's stock worth $1,653,000 after buying an additional 300 shares during the last quarter. Finally, Intellectus Partners LLC lifted its holdings in shares of PACCAR by 5.1% during the third quarter. Intellectus Partners LLC now owns 10,723 shares of the company's stock worth $1,058,000 after buying an additional 522 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

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Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company's stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR Trading Down 0.6 %

PACCAR stock traded down $0.62 during mid-day trading on Wednesday, hitting $99.59. The stock had a trading volume of 2,233,100 shares, compared to its average volume of 2,504,357. The stock has a 50-day simple moving average of $106.86 and a two-hundred day simple moving average of $106.50. The stock has a market capitalization of $52.27 billion, a PE ratio of 12.59, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a positive change from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's dividend payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research analyst reports. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and upped their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Citigroup cut their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price target on PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a report on Tuesday. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, UBS Group lowered PACCAR from a "buy" rating to a "neutral" rating and cut their target price for the company from $124.00 to $108.00 in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $118.23.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.