Russell Investments Group Ltd. Has $38.68 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Russell Investments Group Ltd. trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,819 shares of the company’s stock after selling 37,150 shares during the period. Russell Investments Group Ltd. owned 0.07% of PACCAR worth $38,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PCAR. Meeder Asset Management Inc. increased its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR during the 4th quarter worth $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR in the fourth quarter worth $37,000. Atala Financial Inc acquired a new position in PACCAR in the fourth quarter valued at about $43,000. Finally, Regents Gate Capital LLP acquired a new position in PACCAR in the fourth quarter valued at about $44,000. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial raised 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. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and cut their target price for the stock from $108.00 to $78.00 in a research note on Monday. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. dropped their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $115.04.

PACCAR Stock Performance

NASDAQ:PCAR opened at $88.14 on Tuesday. The stock’s 50-day moving average is $103.31 and its 200-day moving average is $106.63. The stock has a market cap of $46.27 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1-year low of $86.12 and a 1-year high of $123.20. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

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%. Equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.50%. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

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.