Corient Private Wealth LLC Sells 98,837 Shares of PACCAR Inc (NASDAQ:PCAR)

Corient Private Wealth LLC lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,282,014 shares of the company’s stock after selling 98,837 shares during the quarter. Corient Private Wealth LLC’s holdings in PACCAR were worth $237,376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gitterman Wealth Management LLC bought a new position in shares of PACCAR in the 4th quarter valued at about $353,000. one8zero8 LLC bought a new position in shares of PACCAR in the 4th quarter valued at about $2,882,000. Natixis Advisors LLC boosted its stake in shares of PACCAR by 20.8% in the 4th quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company’s stock valued at $108,468,000 after purchasing an additional 179,577 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of PACCAR by 1.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 37,040 shares of the company’s stock valued at $3,853,000 after purchasing an additional 511 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of PACCAR in the 4th quarter valued at about $996,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $99.21 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a market capitalization of $52.07 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The firm’s 50 day moving average is $107.17 and its 200-day moving average is $106.35.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, 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. Over the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PCAR shares. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI reduced their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $120.35.

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.