PACCAR Inc (NASDAQ:PCAR) Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,441 shares of the company’s stock after selling 120 shares during the quarter. PACCAR comprises 2.0% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 22nd biggest holding. Cairn Investment Group Inc.’s holdings in PACCAR were worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PCAR. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after buying an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % 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. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PCAR shares. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus target price of $121.32.

PACCAR Stock Performance

PACCAR stock opened at $110.89 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock has a fifty day moving average of $110.45 and a two-hundred day moving average of $104.45. The company has a market capitalization of $58.14 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 2.77 and a beta of 0.93. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 13.51% and a return on equity of 27.24%. On average, analysts anticipate that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 13.41%.

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.