PACCAR Inc (NASDAQ:PCAR) Shares Sold by Syon Capital LLC

Syon Capital LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,476 shares of the company’s stock after selling 115 shares during the period. Syon Capital LLC’s holdings in PACCAR were worth $674,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares during the period. Morse Asset Management Inc acquired a new stake in PACCAR in the 3rd quarter valued at $370,000. McIlrath & Eck LLC raised its position in PACCAR by 16.0% in the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock valued at $2,769,000 after purchasing an additional 3,878 shares during the period. World Investment Advisors LLC acquired a new position in shares of PACCAR during the third quarter worth about $419,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of PACCAR in the third quarter worth about $269,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % 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 quarter. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup reduced their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock 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 target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Truist Financial dropped their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $108.59.

PACCAR Trading Up 4.0 %

Shares of NASDAQ PCAR opened at $92.68 on Friday. The stock has a market capitalization of $48.65 billion, a P/E ratio of 11.72, a PEG ratio of 2.77 and a beta of 0.96. The stock’s 50 day moving average price is $97.84 and its two-hundred day moving average price is $105.43. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 52-week low of $85.05 and a 52-week high of $118.81.

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

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.42%. PACCAR’s payout ratio is 16.69%.

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.