Schroder Investment Management Group Sells 35,733 Shares of PACCAR Inc (NASDAQ:PCAR)

Schroder Investment Management Group lowered its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 537,142 shares of the company's stock after selling 35,733 shares during the period. Schroder Investment Management Group owned about 0.10% of PACCAR worth $55,653,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Townsquare Capital LLC increased its holdings in PACCAR by 36.1% in the third quarter. Townsquare Capital LLC now owns 11,133 shares of the company's stock valued at $1,099,000 after buying an additional 2,951 shares during the last quarter. Public Sector Pension Investment Board raised its stake in PACCAR by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company's stock valued at $2,255,000 after buying an additional 2,700 shares in the last quarter. Verition Fund Management LLC raised its stake in PACCAR by 41.2% during the third quarter. Verition Fund Management LLC now owns 28,960 shares of the company's stock valued at $2,858,000 after buying an additional 8,457 shares in the last quarter. Finally, Hilltop Holdings Inc. lifted its holdings in PACCAR by 49.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 8,266 shares of the company's stock worth $816,000 after buying an additional 2,728 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCAR. Evercore ISI lowered their price target on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Citigroup cut their price target on PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PACCAR has a consensus rating of "Moderate Buy" and a consensus price target of $117.54.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company's stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 61,005 shares of the company's stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $1.20 during midday trading on Friday, hitting $91.17. The company's stock had a trading volume of 4,039,680 shares, compared to its average volume of 2,663,427. PACCAR Inc has a fifty-two week low of $89.74 and a fifty-two week high of $123.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market capitalization of $47.86 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.77 and a beta of 0.96. The stock's 50 day simple moving average is $104.12 and its 200 day simple moving average is $106.61.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.45%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

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.