Advisory Services Network LLC Reduces Stake in PACCAR Inc (NASDAQ:PCAR)

Advisory Services Network LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,462 shares of the company's stock after selling 9,777 shares during the period. Advisory Services Network LLC's holdings in PACCAR were worth $3,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Wellington Management Group LLP boosted its holdings in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC raised its stake in PACCAR by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. FMR LLC raised its stake in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after acquiring an additional 167,165 shares in the last quarter. Finally, Norges Bank acquired a new position in PACCAR in the fourth quarter valued at approximately $526,922,000. Institutional investors own 64.90% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a research report on Wednesday. Melius Research set a $120.00 price target on PACCAR in a report on Tuesday, March 18th. Truist Financial decreased their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $109.63.

PACCAR Trading Down 0.7 %

PCAR traded down $0.65 during midday trading on Wednesday, reaching $88.17. 653,034 shares of the company were exchanged, compared to its average volume of 2,738,843. The stock has a market capitalization of $46.28 billion, a P/E ratio of 11.15, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a one year low of $85.10 and a one year high of $118.81. The stock's 50-day simple moving average is $100.20 and its 200 day simple moving average is $106.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its 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, analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Insider Buying and Selling

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company's stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. 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 in the last quarter. Corporate insiders own 2.02% of the company's stock.

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.