PACCAR Inc (NASDAQ:PCAR) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 46.9% during the fourth quarter, Holdings Channel reports. The fund owned 62,276 shares of the company’s stock after selling 54,984 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PACCAR were worth $6,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blair William & Co. IL increased its position in shares of PACCAR by 5.0% in the second quarter. Blair William & Co. IL now owns 27,322 shares of the company’s stock valued at $2,813,000 after buying an additional 1,289 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of PACCAR by 8.0% during the second quarter. Ieq Capital LLC now owns 20,958 shares of the company’s stock worth $2,157,000 after buying an additional 1,555 shares in the last quarter. AE Wealth Management LLC raised its position in shares of PACCAR by 33.7% in the second quarter. AE Wealth Management LLC now owns 3,887 shares of the company’s stock valued at $400,000 after buying an additional 980 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of PACCAR by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 68,222 shares of the company’s stock worth $7,023,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in PACCAR by 34.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 151,067 shares of the company’s stock valued at $15,550,000 after purchasing an additional 38,373 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCAR. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $120.13.

Insider Activity

In related news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The stock was 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 approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of PCAR opened at $110.33 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a 50 day moving average price of $111.10 and a 200 day moving average price of $104.05. The company has a market capitalization of $57.85 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $2.34 EPS. Research analysts predict that PACCAR Inc will post 7.92 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared 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 positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 13.41%.

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.