PACCAR Inc (NASDAQ:PCAR) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,007 shares of the company's stock after selling 3,436 shares during the period. Orion Portfolio Solutions LLC's holdings in PACCAR were worth $7,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Norges Bank acquired a new stake in shares of PACCAR during the fourth quarter worth $526,922,000. Wellington Management Group LLP lifted its position in 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 acquiring an additional 4,669,172 shares during the period. Madison Investment Advisors LLC purchased a new stake in PACCAR during the 4th quarter valued at about $254,651,000. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in shares of PACCAR in the third quarter worth about $63,186,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

PCAR stock traded up $0.92 during mid-day trading on Tuesday, reaching $98.29. 2,193,917 shares of the company's stock were exchanged, compared to its average volume of 2,651,727. 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 $90.04 and a 12-month high of $124.39. The stock's 50 day moving average is $104.93 and its 200 day moving average is $106.74. The company has a market cap of $51.60 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

Remove Ads

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 of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. PACCAR's dividend payout ratio (DPR) is 16.69%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and upped their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, UBS Group lowered PACCAR from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $117.54.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated 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 sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % 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 business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last 90 days. 2.02% of the stock is currently owned by company 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.