PACCAR Inc (NASDAQ:PCAR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 371,819 shares of the company's stock after selling 37,150 shares during the period. Russell Investments Group Ltd. owned about 0.07% of PACCAR worth $38,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PCAR. Principal Financial Group Inc. raised its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Janus Henderson Group PLC raised its position in PACCAR by 3.0% in the third quarter. Janus Henderson Group PLC now owns 65,511 shares of the company's stock valued at $6,464,000 after purchasing an additional 1,900 shares during the period. IHT Wealth Management LLC purchased a new stake in PACCAR in the 3rd quarter valued at about $297,000. Morse Asset Management Inc purchased a new stake in shares of PACCAR in the 3rd quarter valued at approximately $370,000. Finally, Stifel Financial Corp lifted its stake in PACCAR by 6.4% during the third quarter. Stifel Financial Corp now owns 211,861 shares of the company's stock worth $20,906,000 after purchasing an additional 12,807 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company's stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 Price Performance

Shares of NASDAQ:PCAR traded up $1.70 during midday trading on Friday, hitting $90.47. 3,357,834 shares of the stock were exchanged, compared to its average volume of 2,741,126. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $121.75. The stock has a market cap of $47.49 billion, a P/E ratio of 11.44, a PEG 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. The company has a 50 day moving average price of $100.92 and a 200-day moving average price of $106.21.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed 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 represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's payout ratio is currently 16.69%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday. UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. Finally, Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $112.13.

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.