Perpetual Ltd Sells 2,083 Shares of PACCAR Inc (NASDAQ:PCAR)

Perpetual Ltd lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 17.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,762 shares of the company’s stock after selling 2,083 shares during the period. Perpetual Ltd’s holdings in PACCAR were worth $1,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PCAR. Wellington Management Group LLP raised its stake 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 buying an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 47.8% during the 3rd 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 last quarter. JPMorgan Chase & Co. raised its stake in PACCAR by 49.6% in the 3rd 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. Erste Asset Management GmbH bought a new stake in PACCAR in the 3rd quarter valued at $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after purchasing an additional 576,532 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on 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 directly owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.2 %

PCAR opened at $109.84 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The stock has a market capitalization of $57.59 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 2.78 and a beta of 0.93. The company has a 50-day simple moving average of $110.84 and a 200 day simple moving average of $104.19.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter last year, the business posted $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts predict that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 14.75%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PCAR. Truist Financial upped their price objective on shares of PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $120.13.

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.