iA Global Asset Management Inc. Sells 15,193 Shares of PACCAR Inc (NASDAQ:PCAR)

iA Global Asset Management Inc. lessened its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,511 shares of the company's stock after selling 15,193 shares during the quarter. iA Global Asset Management Inc.'s holdings in PACCAR were worth $5,878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Everence Capital Management Inc. acquired a new stake in PACCAR in the 4th quarter worth about $1,984,000. Cullen Frost Bankers Inc. lifted its stake in PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after acquiring an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC increased its stake in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock worth $2,962,000 after buying an additional 5,871 shares during the period. Insight Wealth Strategies LLC grew its stake in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after acquiring an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of PCAR traded up $0.60 during midday trading on Tuesday, reaching $99.24. The stock had a trading volume of 1,956,717 shares, compared to its average volume of 2,528,810. The firm's 50 day moving average price is $106.10 and its 200-day moving average price is $106.60. The company has a market capitalization of $52.09 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

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PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 23.53% and a net margin of 12.36%. On average, analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.33%. PACCAR's payout ratio is 16.69%.

Insider Activity

In other news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. Insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research reports. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, UBS Group downgraded PACCAR from a "buy" rating to a "neutral" rating and lowered their price target for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.23.

PACCAR Company Profile

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.