PACCAR Inc (NASDAQ:PCAR) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 42.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,704 shares of the company's stock after selling 53,704 shares during the period. iA Global Asset Management Inc.'s holdings in PACCAR were worth $7,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the period. Dimensional Fund Advisors LP boosted its stake in PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company's stock worth $557,572,000 after buying an additional 171,317 shares during the period. Fisher Asset Management LLC raised its stake in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after acquiring an additional 89,245 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company's stock valued at $445,681,000 after acquiring an additional 242,435 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on PCAR shares. BNP Paribas upgraded shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Friday. Citigroup raised their target price on PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, November 20th. Finally, Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, PACCAR currently has an average rating of "Hold" and a consensus target price of $117.83.

PACCAR Stock Down 1.5 %

NASDAQ:PCAR traded down $1.74 during mid-day trading on Friday, hitting $115.88. The stock had a trading volume of 1,916,392 shares, compared to its average volume of 1,958,968. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The stock has a 50-day simple moving average of $109.50 and a two-hundred day simple moving average of $103.66. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $60.76 billion, a PE ratio of 12.95, a PEG ratio of 1.86 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company's revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $2.34 EPS. On average, equities research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is 13.41%.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 20,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last ninety days. Insiders own 2.02% of the company's stock.

PACCAR 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.