Invesco Ltd. Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Invesco Ltd. trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,755,151 shares of the company's stock after selling 80,378 shares during the quarter. Invesco Ltd. owned about 0.91% of PACCAR worth $494,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR during the 4th quarter worth approximately $37,000. OFI Invest Asset Management acquired a new position in PACCAR during the 4th quarter valued at approximately $43,000. Finally, Atala Financial Inc acquired a new position in PACCAR during the 4th quarter valued at approximately $43,000. 64.90% of the stock is currently owned by institutional investors.

Insider Transactions at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last 90 days. Corporate insiders own 2.02% of the company's stock.

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PACCAR Price Performance

PCAR stock traded down $0.32 during mid-day trading on Monday, reaching $90.15. 644,431 shares of the company's stock were exchanged, compared to its average volume of 2,733,076. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 12-month low of $85.10 and a 12-month high of $121.75. The stock's 50 day moving average is $100.92 and its 200 day moving average is $106.21. The company has a market cap of $47.32 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, research analysts expect that PACCAR Inc will post 7.57 EPS for the current 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 $0.33 dividend. This is a positive change from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. PACCAR's dividend payout ratio (DPR) is 16.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their target price on PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Citigroup reduced their price target on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $112.13.

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.