Pinebridge Investments L.P. Has $27.28 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Pinebridge Investments L.P. lowered its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,243 shares of the company's stock after selling 64,136 shares during the period. Pinebridge Investments L.P. owned about 0.05% of PACCAR worth $27,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of PACCAR in the third quarter valued at $370,000. McIlrath & Eck LLC increased its holdings in PACCAR by 16.0% during the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company's stock worth $2,769,000 after buying an additional 3,878 shares during the last quarter. World Investment Advisors LLC acquired a new stake in PACCAR in the third quarter valued at $419,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of PACCAR in the 3rd quarter valued at about $269,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of research analyst reports. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and upped their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and cut their price objective for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. Finally, Evercore ISI reduced their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, PACCAR has a consensus rating of "Hold" and an average target price of $108.59.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company's stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $88.56 on Wednesday. The firm has a 50-day moving average price of $98.44 and a two-hundred day moving average price of $105.61. PACCAR Inc has a 12-month low of $85.05 and a 12-month high of $118.81. The company has a market capitalization of $46.49 billion, a P/E ratio of 11.20, a P/E/G ratio of 2.77 and a beta of 0.96. 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 (NASDAQ:PCAR - Get Free Report) last issued 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 net margin of 12.36% and a return on equity of 23.53%. Analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio is 16.69%.

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.

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