Royal London Asset Management Ltd. Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Royal London Asset Management Ltd. cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 873,087 shares of the company’s stock after selling 37,150 shares during the quarter. Royal London Asset Management Ltd. owned about 0.17% of PACCAR worth $90,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its position in shares of PACCAR by 32.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 31,980 shares of the company’s stock worth $3,313,000 after acquiring an additional 7,833 shares during the last quarter. Xponance Inc. boosted its holdings in shares of PACCAR by 3.9% in the 4th quarter. Xponance Inc. now owns 74,319 shares of the company’s stock valued at $7,731,000 after purchasing an additional 2,769 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of PACCAR in the 4th quarter valued at $6,437,000. Horizon Investments LLC increased its holdings in shares of PACCAR by 1.9% during the 4th quarter. Horizon Investments LLC now owns 15,955 shares of the company’s stock worth $1,660,000 after buying an additional 297 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of PACCAR by 18.5% during the 4th quarter. Advisors Asset Management Inc. now owns 61,628 shares of the company’s stock worth $6,411,000 after buying an additional 9,641 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR opened at $99.59 on Thursday. The firm has a market cap of $52.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $106.68 and its two-hundred day moving average is $106.45. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

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 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%. Analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Buying and Selling

In related news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction 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 in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PCAR shares. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and cut their price target for the company from $124.00 to $108.00 in a report on Tuesday. Jefferies Financial Group downgraded shares of 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. Citigroup cut 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.23.

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.