PGGM Investments lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 49.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,643 shares of the company's stock after selling 50,280 shares during the quarter. PGGM Investments' holdings in PACCAR were worth $5,372,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in PACCAR during the fourth quarter worth $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the fourth quarter valued at $37,000. OFI Invest Asset Management acquired a new stake in PACCAR in the fourth quarter valued at $43,000. Regents Gate Capital LLP acquired a new stake in PACCAR in the fourth quarter valued at $44,000. Finally, Ashton Thomas Securities LLC acquired a new stake in PACCAR in the third quarter valued at $52,000. Institutional investors and hedge funds own 64.90% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a report on Tuesday. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, UBS Group downgraded PACCAR from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $124.00 to $108.00 in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $118.23.
Check Out Our Latest Stock Report on PACCAR
PACCAR Stock Performance
PACCAR stock traded down $0.96 during trading on Tuesday, hitting $100.21. The stock had a trading volume of 1,862,901 shares, compared to its average volume of 2,507,842. The stock's 50 day moving average is $107.05 and its two-hundred day moving average is $106.47. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a market cap of $52.59 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued 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 net margin of 12.36% and a return on equity of 23.53%. As a group, analysts predict that PACCAR Inc will post 7.57 EPS for the current year.
PACCAR Increases Dividend
The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is presently 16.69%.
Insider Transactions at PACCAR
In other news, VP Michael K. Walton sold 6,000 shares of the company'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 transaction, the vice president now owns 951 shares of the company's stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction on Friday, January 31st. The stock was 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.
PACCAR Profile
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Free Report)
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.
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