PACCAR Inc (NASDAQ:PCAR) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,808 shares of the company’s stock after selling 2,434 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in PACCAR were worth $7,469,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the fourth quarter worth about $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR in the fourth quarter worth about $44,000. OFI Invest Asset Management acquired a new stake in PACCAR in the fourth quarter worth about $43,000. Finally, Ashton Thomas Securities LLC acquired a new stake in PACCAR in the third quarter worth about $52,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCAR. Citigroup reduced their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

PCAR stock opened at $110.56 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The firm has a market capitalization of $58.02 billion, a PE ratio of 13.98, a P/E/G ratio of 2.77 and a beta of 0.91. The firm has a 50-day moving average of $107.41 and a two-hundred day moving average of $106.26.

PACCAR (NASDAQ:PCAR) 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, analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given 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 16.69%.

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.