Rockefeller Capital Management L.P. Sells 21,818 Shares of PACCAR Inc (NASDAQ:PCAR)

Rockefeller Capital Management L.P. reduced its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 58.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,813 shares of the company's stock after selling 21,818 shares during the period. Rockefeller Capital Management L.P.'s holdings in PACCAR were worth $1,569,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Mengis Capital Management Inc. increased its stake in PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company's stock valued at $18,863,000 after buying an additional 5,433 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in PACCAR by 28.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company's stock worth $2,552,000 after acquiring an additional 5,437 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in PACCAR by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company's stock valued at $301,260,000 after purchasing an additional 47,855 shares during the last quarter. Finally, Kinsale Capital Group Inc. grew its stake in PACCAR by 17.2% in the third quarter. Kinsale Capital Group Inc. now owns 50,794 shares of the company's stock valued at $5,012,000 after purchasing an additional 7,451 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of analyst reports. Jefferies Financial Group cut 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. BNP Paribas raised shares of PACCAR to a "hold" rating in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus rating of "Hold" and a consensus price target of $117.83.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company's stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the 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 owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 in the last quarter. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Performance

NASDAQ:PCAR traded down $1.74 during mid-day trading on Friday, hitting $115.88. 1,916,392 shares of the stock were exchanged, compared to its average volume of 1,958,968. The firm's 50-day simple moving average is $109.50 and its 200 day simple moving average is $103.66. The stock has a market capitalization of $60.76 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.86 and a beta of 0.91. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 firm had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.34 EPS. As a group, equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Wednesday, November 13th. PACCAR's dividend payout ratio is currently 13.41%.

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.