Sequoia Financial Advisors LLC Sells 101 Shares of PACCAR Inc (NASDAQ:PCAR)

Sequoia Financial Advisors LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 1.2% during the fourth quarter, HoldingsChannel reports. The fund owned 8,592 shares of the company’s stock after selling 101 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in PACCAR were worth $894,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of PACCAR by 1.8% in the third quarter. Metis Global Partners LLC now owns 16,751 shares of the company’s stock worth $1,653,000 after buying an additional 300 shares in the last quarter. KCM Investment Advisors LLC purchased a new stake in shares of PACCAR in the third quarter worth about $282,000. Natixis Advisors LLC lifted its holdings in shares of PACCAR by 23.3% in the third quarter. Natixis Advisors LLC now owns 863,184 shares of the company’s stock worth $85,179,000 after buying an additional 163,192 shares in the last quarter. Finally, Kinsale Capital Group Inc. lifted its holdings in shares of PACCAR by 17.2% in the third quarter. Kinsale Capital Group Inc. now owns 50,794 shares of the company’s stock worth $5,012,000 after buying an additional 7,451 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm’s 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 transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Jefferies Financial Group downgraded 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. Finally, Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $120.35.

PACCAR Stock Up 0.8 %

Shares of NASDAQ PCAR opened at $99.21 on Monday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm’s 50 day simple moving average is $107.17 and its two-hundred day simple moving average is $106.43. The stock has a market capitalization of $52.07 billion, a P/E ratio of 12.54, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results 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%. As a group, analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal 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 issued a $3.00 dividend. 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 dividend payout ratio (DPR) is currently 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.