PACCAR Inc (NASDAQ:PCAR) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 84.5% in the 4th quarter, Holdings Channel reports. The firm owned 20,633 shares of the company’s stock after selling 112,062 shares during the quarter. Achmea Investment Management B.V.’s holdings in PACCAR were worth $2,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Everence Capital Management Inc. acquired a new position in PACCAR during the fourth quarter worth about $1,984,000. Cullen Frost Bankers Inc. raised its position in PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after acquiring an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC raised its position in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC raised its position in PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, 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 worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PCAR. Citigroup cut their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

Insider Transactions at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the 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 sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the 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 sale, the vice president now directly owns 5,463 shares in the company, valued at $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 have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $99.21 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a 50 day moving average price of $107.17 and a 200 day moving average price of $106.26. The company has a market cap of $52.07 billion, a price-to-earnings ratio of 12.54, 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 (NASDAQ:PCAR) last released its quarterly earnings data 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 return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

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

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.