Vanguard Group Inc. Trims Holdings in PACCAR Inc (NASDAQ:PCAR)

Vanguard Group Inc. lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,882,409 shares of the company’s stock after selling 187,579 shares during the period. Vanguard Group Inc. owned about 0.12% of PACCAR worth $6,437,008,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. OFI Invest Asset Management purchased a new position in PACCAR during the 4th quarter valued at about $43,000. Atala Financial Inc purchased a new position in PACCAR during the 4th quarter valued at about $43,000. Finally, Regents Gate Capital LLP purchased a new position in PACCAR during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $97.11 on Monday. The stock has a market capitalization of $50.96 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $106.29 and its 200 day simple moving average is $106.56.

PACCAR (NASDAQ:PCAR) last released its quarterly 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%. As a group, research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio is presently 16.69%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PCAR shares. 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 report on Friday, December 6th. Citigroup reduced their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Melius Research upgraded PACCAR to a “strong-buy” rating in a report on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.23.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. 2.02% of the stock is currently owned by company insiders.

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.