Thrivent Financial for Lutherans Has $10.32 Million Position in PACCAR Inc (NASDAQ:PCAR)

Thrivent Financial for Lutherans trimmed its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,155 shares of the company's stock after selling 30,671 shares during the period. Thrivent Financial for Lutherans' holdings in PACCAR were worth $10,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Golden State Wealth Management LLC bought a new position in PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR in the fourth quarter valued at approximately $37,000. OFI Invest Asset Management bought a new position in shares of PACCAR during the fourth quarter worth approximately $43,000. Atala Financial Inc acquired a new stake in PACCAR during the 4th quarter worth approximately $43,000. Finally, Regents Gate Capital LLP bought a new stake in PACCAR in the 4th quarter valued at $44,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PCAR shares. UBS Group cut PACCAR from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered 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. Eight equities research 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 stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and a consensus target price of $118.23.

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PACCAR Price Performance

Shares of PACCAR stock traded up $0.60 during trading on Tuesday, reaching $99.24. 1,956,717 shares of the company's stock were exchanged, compared to its average volume of 2,533,659. The firm's 50-day moving average price is $105.88 and its 200 day moving average price is $106.65. The company has a market cap of $52.09 billion, a P/E ratio of 12.55, a PEG ratio of 2.77 and a beta of 0.91. 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 Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.

Insider Transactions at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company's stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at approximately $612,129.15. This trade represents a 26.80 % 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 worth $18,261,908 over the last three months. 2.02% of the stock is owned by company insiders.

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.