Royal London Asset Management Ltd. Purchases 11,452 Shares of PACCAR Inc (NASDAQ:PCAR)

Royal London Asset Management Ltd. increased its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 910,237 shares of the company's stock after purchasing an additional 11,452 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.17% of PACCAR worth $89,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in shares of PACCAR by 371.8% during the 1st quarter. Cetera Investment Advisers now owns 44,311 shares of the company's stock valued at $5,490,000 after acquiring an additional 34,919 shares during the period. Cetera Advisors LLC raised its holdings in PACCAR by 61.5% during the first quarter. Cetera Advisors LLC now owns 15,781 shares of the company's stock worth $1,955,000 after buying an additional 6,010 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in PACCAR by 49.1% during the second quarter. Linden Thomas Advisory Services LLC now owns 3,916 shares of the company's stock worth $403,000 after buying an additional 1,290 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in PACCAR by 6.9% during the second quarter. Valeo Financial Advisors LLC now owns 6,425 shares of the company's stock worth $661,000 after buying an additional 412 shares during the last quarter. Finally, Csenge Advisory Group raised its holdings in shares of PACCAR by 9.0% in the second quarter. Csenge Advisory Group now owns 2,416 shares of the company's stock valued at $249,000 after purchasing an additional 200 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares of the company's stock, valued at approximately $761,947. This represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares of the company's stock, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 over the last 90 days. Company insiders own 2.02% of the company's stock.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $0.40 during trading on Thursday, hitting $118.01. The stock had a trading volume of 571,300 shares, compared to its average volume of 2,587,158. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The stock has a market capitalization of $61.87 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.83 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $108.75 and a two-hundred day simple moving average of $103.53.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. During the same quarter in the prior year, the company posted $2.34 EPS. The business's revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is 13.41%.

Analyst Ratings Changes

A number of research firms have recently commented on PCAR. Citigroup raised their price objective on shares of PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, November 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an "in-line" rating to an "outperform" rating and raised their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $117.64.

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.