Sentry Investment Management LLC Sells 318 Shares of PACCAR Inc (NASDAQ:PCAR)

Sentry Investment Management LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,953 shares of the company’s stock after selling 318 shares during the period. Sentry Investment Management LLC’s holdings in PACCAR were worth $203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in shares of PACCAR by 20.6% in the third quarter. Private Advisor Group LLC now owns 26,118 shares of the company’s stock worth $2,577,000 after purchasing an additional 4,457 shares during the period. International Assets Investment Management LLC grew its stake in PACCAR by 7,540.3% during the third quarter. International Assets Investment Management LLC now owns 289,034 shares of the company’s stock worth $28,522,000 after buying an additional 285,251 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in PACCAR by 1.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 213,294 shares of the company’s stock valued at $21,048,000 after buying an additional 2,920 shares during the period. abrdn plc raised its position in shares of PACCAR by 7.4% in the 3rd quarter. abrdn plc now owns 247,516 shares of the company’s stock valued at $24,283,000 after buying an additional 17,084 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of PACCAR by 111.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,649 shares of the company’s stock worth $656,000 after acquiring an additional 3,498 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last three months. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $106.58 on Wednesday. The business has a 50 day moving average of $107.28 and a 200-day moving average of $105.53. The company has a market capitalization of $55.93 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 1 year low of $90.04 and a 1 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.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results 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 net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 16.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PCAR shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

About PACCAR

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.