PNC Financial Services Group Inc. Sells 6,409 Shares of PACCAR Inc (NASDAQ:PCAR)

PNC Financial Services Group Inc. decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 365,310 shares of the company's stock after selling 6,409 shares during the period. PNC Financial Services Group Inc. owned about 0.07% of PACCAR worth $38,000,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PCAR. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the fourth quarter valued at about $37,000. Kestra Investment Management LLC bought a new position in PACCAR during the 4th quarter valued at approximately $37,000. Regents Gate Capital LLP purchased a new stake in PACCAR in the 4th quarter worth approximately $44,000. Ashton Thomas Securities LLC purchased a new stake in PACCAR in the 3rd quarter worth approximately $52,000. Finally, AdvisorNet Financial Inc grew its position in shares of PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock worth $59,000 after buying an additional 391 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the 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 transaction, the vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 in the last 90 days. 2.02% of the stock is currently owned by insiders.

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PACCAR Stock Down 2.2 %

Shares of PCAR traded down $2.35 on Wednesday, hitting $102.37. 521,923 shares of the stock traded hands, compared to its average volume of 2,501,758. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market capitalization of $53.72 billion, a PE ratio of 12.91, a P/E/G ratio of 2.77 and a beta of 0.91. The business has a 50 day simple moving average of $107.42 and a 200 day simple moving average of $106.32. 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 (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. As a group, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. 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 currently 16.69%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup dropped 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. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Finally, Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.77.

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.