PACCAR Inc (NASDAQ:PCAR) Stake Cut by Quantbot Technologies LP

Quantbot Technologies LP decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 77.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,412 shares of the company's stock after selling 42,219 shares during the quarter. Quantbot Technologies LP's holdings in PACCAR were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Everence Capital Management Inc. purchased a new position in shares of PACCAR during the fourth quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. boosted its stake in shares of PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after purchasing an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock worth $2,962,000 after acquiring an additional 5,871 shares during the period. Insight Wealth Strategies LLC raised its holdings in PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after acquiring an additional 89,245 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

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Insiders Place Their Bets

In related news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction 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 transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Up 0.6 %

Shares of PCAR traded up $0.60 during midday trading on Tuesday, reaching $99.24. The stock had a trading volume of 1,956,717 shares, compared to its average volume of 2,533,659. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a market cap of $52.09 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.77 and a beta of 0.91. The company's fifty day simple moving average is $106.10 and its two-hundred day simple moving average is $106.60.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 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%. Equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. 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 1.33%. PACCAR's dividend payout ratio is currently 16.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PCAR shares. Melius Research upgraded shares of PACCAR to a "strong-buy" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. decreased 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 increased their price target on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Finally, Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and an average price target of $118.23.

About PACCAR

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.