International Assets Investment Management LLC Lowers Position in PACCAR Inc (NASDAQ:PCAR)

International Assets Investment Management LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 99.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,892 shares of the company’s stock after selling 286,142 shares during the period. International Assets Investment Management LLC’s holdings in PACCAR were worth $299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sander Capital Advisors Inc. raised its position in PACCAR by 22.4% during the fourth quarter. Sander Capital Advisors Inc. now owns 618 shares of the company’s stock valued at $64,000 after purchasing an additional 113 shares in the last quarter. Fortem Financial Group LLC raised its position in PACCAR by 9.3% during the fourth quarter. Fortem Financial Group LLC now owns 8,820 shares of the company’s stock valued at $917,000 after purchasing an additional 747 shares in the last quarter. Insight Wealth Strategies LLC raised its position in PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in PACCAR during the fourth quarter valued at about $1,984,000. Finally, GAMMA Investing LLC raised its position in PACCAR by 15.0% during the fourth quarter. GAMMA Investing LLC now owns 8,127 shares of the company’s stock valued at $845,000 after purchasing an additional 1,058 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PCAR has been the topic of a number of research reports. Truist Financial raised their price target on PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $118.50.

PACCAR Stock Down 1.8 %

NASDAQ PCAR opened at $106.58 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The stock has a market capitalization of $55.88 billion, a PE ratio of 11.91, a PEG ratio of 1.77 and a beta of 0.93. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business’s 50-day moving average is $111.26 and its 200 day moving average is $103.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. Sell-side analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders 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 of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 14.75%.

PACCAR Company 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.