PACCAR Inc (NASDAQ:PCAR) Stock Position Trimmed by Commerce Bank

Commerce Bank decreased its position in PACCAR Inc (NASDAQ:PCAR) by 2.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 26,459 shares of the company’s stock after selling 743 shares during the period. Commerce Bank’s holdings in PACCAR were worth $2,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PCAR. Wellington Management Group LLP boosted its position in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after buying an additional 3,364,650 shares during the period. Geode Capital Management LLC boosted its position in PACCAR by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock worth $1,119,997,000 after purchasing an additional 572,231 shares in the last quarter. FMR LLC increased its holdings in shares of PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Norges Bank bought a new stake in shares of PACCAR during the fourth quarter valued at about $526,922,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $88.17 on Monday. 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 Inc has a 1 year low of $85.10 and a 1 year high of $118.81. The company has a market cap of $46.28 billion, a PE ratio of 11.15, a PEG ratio of 2.77 and a beta of 0.96. The stock’s 50-day moving average price is $99.09 and its two-hundred day moving average price is $105.84.

PACCAR (NASDAQ:PCAR) last released 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%. On average, analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $121.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial dropped their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $108.59.

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.