Barclays PLC Sells 547,031 Shares of PACCAR Inc (NASDAQ:PCAR)

Barclays PLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 30.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,255,654 shares of the company's stock after selling 547,031 shares during the period. Barclays PLC owned approximately 0.24% of PACCAR worth $123,908,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of PACCAR during the second quarter worth approximately $88,437,000. Erste Asset Management GmbH acquired a new stake in shares of PACCAR during the third quarter worth approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of PACCAR by 115.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock worth $106,047,000 after buying an additional 576,532 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Up 0.4 %

PCAR stock traded up $0.48 during midday trading on Wednesday, hitting $115.85. The company's stock had a trading volume of 2,218,317 shares, compared to its average volume of 2,583,089. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company's fifty day moving average price is $110.17 and its 200 day moving average price is $103.74. The stock has a market capitalization of $60.74 billion, a P/E ratio of 13.04, a PEG ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The company 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%. PACCAR's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. As a group, equities research analysts predict that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.14%. PACCAR's payout ratio is currently 13.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PCAR shares. BNP Paribas raised shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Citigroup raised their price objective on shares of PACCAR from $120.00 to $125.00 and gave the stock a "neutral" rating in a report on Monday. Morgan Stanley dropped their price objective on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, Truist Financial raised their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, PACCAR has an average rating of "Hold" and an average target price of $118.25.

Insider Transactions at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares of the company's stock, valued at approximately $761,947. The trade was a 58.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company's stock, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 in the last ninety days. Insiders own 2.02% of the company's stock.

PACCAR Company 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.