Pictet Asset Management Holding SA Sells 23,822 Shares of PACCAR Inc (NASDAQ:PCAR)

Pictet Asset Management Holding SA trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,816 shares of the company's stock after selling 23,822 shares during the period. Pictet Asset Management Holding SA's holdings in PACCAR were worth $25,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC bought a new stake in PACCAR in the 4th quarter valued at $37,000. OFI Invest Asset Management acquired a new stake in PACCAR during the 4th quarter valued at $43,000. Atala Financial Inc bought a new position in PACCAR during the fourth quarter worth $43,000. Finally, Regents Gate Capital LLP acquired a new position in shares of PACCAR in the fourth quarter valued at $44,000. Institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company's stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last ninety days. 2.02% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

A number of analysts have recently issued reports on PCAR shares. Melius Research set a $120.00 target price on shares of PACCAR in a research note on Tuesday, March 18th. Citigroup cut their price objective on shares of PACCAR from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday. JPMorgan Chase & Co. decreased their target price on PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Finally, Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average price target of $117.54.

PACCAR Price Performance

PACCAR stock traded down $1.27 during trading hours on Friday, reaching $91.10. 3,829,172 shares of the stock were exchanged, compared to its average volume of 2,662,323. The stock has a 50 day moving average of $104.12 and a two-hundred day moving average of $106.61. The company has a market cap of $47.82 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. 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 Inc has a twelve month low of $89.74 and a twelve month high of $123.20.

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

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio 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.