TD Asset Management Inc. Sells 230,074 Shares of PACCAR Inc (NASDAQ:PCAR)

TD Asset Management Inc. trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,286,852 shares of the company's stock after selling 230,074 shares during the period. TD Asset Management Inc. owned about 0.44% of PACCAR worth $237,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of PACCAR by 5.6% during 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 in the last quarter. Quest Partners LLC raised its position in PACCAR by 45,433.3% during the third quarter. Quest Partners LLC now owns 2,732 shares of the company's stock valued at $270,000 after acquiring an additional 2,726 shares in the last quarter. Meridian Wealth Management LLC bought a new position in PACCAR during the third quarter valued at approximately $334,000. Sompo Asset Management Co. Ltd. lifted its stake in PACCAR by 7.5% in the third quarter. Sompo Asset Management Co. Ltd. now owns 5,480 shares of the company's stock valued at $541,000 after acquiring an additional 380 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in PACCAR by 11.9% in the third quarter. Daiwa Securities Group Inc. now owns 99,145 shares of the company's stock worth $9,784,000 after acquiring an additional 10,570 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

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PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $1.28 on Friday, hitting $96.91. 2,320,491 shares of the company were exchanged, compared to its average volume of 2,650,738. The company's 50 day moving average price is $105.19 and its two-hundred day moving average price is $106.64. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 2.77 and a beta of 0.91. 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 Inc has a one year low of $90.04 and a one year high of $124.39.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is 16.69%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCAR. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Finally, UBS Group lowered shares of PACCAR from a "buy" rating to a "neutral" rating and dropped their price target for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and a consensus price target of $118.38.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last 90 days. Corporate 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.