Legal & General Group Plc Has $364.60 Million Position in PACCAR Inc (NASDAQ:PCAR)

Legal & General Group Plc decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,505,099 shares of the company's stock after selling 814,622 shares during the quarter. Legal & General Group Plc owned about 0.67% of PACCAR worth $364,600,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PCAR. Principal Financial Group Inc. lifted its holdings in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after acquiring an additional 178,813 shares during the last quarter. Janus Henderson Group PLC lifted its stake in PACCAR by 3.0% during the third quarter. Janus Henderson Group PLC now owns 65,511 shares of the company's stock valued at $6,464,000 after purchasing an additional 1,900 shares during the last quarter. IHT Wealth Management LLC bought a new stake in PACCAR during the third quarter worth approximately $297,000. Morse Asset Management Inc acquired a new position in PACCAR in the third quarter worth approximately $370,000. Finally, Stifel Financial Corp grew its position in PACCAR by 6.4% in the third quarter. Stifel Financial Corp now owns 211,861 shares of the company's stock worth $20,906,000 after buying an additional 12,807 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Up 1.9 %

Shares of NASDAQ:PCAR traded up $1.70 during midday trading on Friday, hitting $90.47. 3,357,834 shares of the stock were exchanged, compared to its average volume of 2,741,126. The company has a market capitalization of $47.49 billion, a PE ratio of 11.44, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52-week low of $85.10 and a 52-week high of $121.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business's fifty day simple moving average is $100.92 and its two-hundred day simple moving average is $106.21.

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

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.46%. This is an increase from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR's payout ratio is currently 16.69%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PCAR shares. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Citigroup dropped their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Truist Financial reduced their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Finally, UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and an average target price of $112.13.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

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.