PACCAR Inc (NASDAQ:PCAR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 336,404 shares of the company’s stock after selling 3,446 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of PACCAR worth $34,995,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC lifted its stake in PACCAR by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 11,322 shares of the company’s stock worth $1,201,000 after purchasing an additional 199 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in shares of PACCAR by 357.7% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 100,063 shares of the company’s stock worth $10,409,000 after buying an additional 78,200 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of PACCAR by 2.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,200,694 shares of the company’s stock valued at $332,936,000 after buying an additional 63,648 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after buying an additional 193 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Up 0.8 %

Shares of NASDAQ PCAR opened at $99.09 on Thursday. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $123.20. The firm has a 50-day moving average price of $104.48 and a 200 day moving average price of $106.71. 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 (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (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%. Equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.33%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PCAR. Citigroup decreased their price objective on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Truist Financial lifted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Bank of America upgraded 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 research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $117.54.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

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.