QRG Capital Management Inc. Has $37.07 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

QRG Capital Management Inc. reduced its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,390 shares of the company's stock after selling 10,490 shares during the quarter. QRG Capital Management Inc. owned about 0.07% of PACCAR worth $37,072,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Madrona Financial Services LLC raised its position in shares of PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock worth $837,000 after purchasing an additional 91 shares during the period. Global Financial Private Client LLC raised its holdings in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock worth $1,011,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC boosted its holdings in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock worth $394,000 after buying an additional 98 shares during the period. Insight Wealth Partners LLC raised its holdings in shares of PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company's stock valued at $760,000 after acquiring an additional 104 shares during the period. Finally, Valley National Advisers Inc. grew its position in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after purchasing an additional 106 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Down 2.1 %

PACCAR stock traded down $2.22 during mid-day trading on Monday, hitting $105.02. 2,467,891 shares of the company's stock were exchanged, compared to its average volume of 2,402,651. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The stock has a 50 day moving average of $107.24 and a two-hundred day moving average of $105.81. The stock has a market cap of $55.11 billion, a P/E ratio of 13.28, a P/E/G ratio of 2.77 and a beta of 0.92. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

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 return on equity of 23.53% and a net margin of 12.36%. As a group, analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCAR shares. Citigroup reduced their target price on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.77.

Insider Buying and Selling

In other news, VP Michael K. Walton sold 6,000 shares of the firm's 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 sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last quarter. 2.02% of the stock is currently owned by company insiders.

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.