PACCAR Inc (NASDAQ:PCAR) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,260 shares of the company's stock after selling 28,650 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.05% of PACCAR worth $27,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares during the period. Fisher Asset Management LLC raised its position in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after acquiring an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock worth $364,690,000 after purchasing an additional 61,457 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

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PACCAR Price Performance

Shares of PCAR stock traded down $1.21 during trading hours on Friday, reaching $97.11. The company had a trading volume of 8,554,751 shares, compared to its average volume of 2,529,508. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market capitalization of $50.96 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.91. The stock has a fifty day moving average of $106.48 and a 200-day moving average of $106.40.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities 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 paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. PACCAR's payout ratio is 16.69%.

Wall Street Analyst Weigh In

PCAR has been the subject of several analyst reports. Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday. Evercore ISI dropped 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. 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 report on Friday, December 6th. Finally, Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Eight 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $118.23.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on 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 owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last ninety days. 2.02% of the stock is owned by insiders.

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.