Sentry Investment Management LLC Sells 318 Shares of PACCAR Inc (NASDAQ:PCAR)

Sentry Investment Management LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 14.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,953 shares of the company’s stock after selling 318 shares during the period. Sentry Investment Management LLC’s holdings in PACCAR were worth $203,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PCAR. Private Advisor Group LLC boosted its holdings in PACCAR by 20.6% in the third quarter. Private Advisor Group LLC now owns 26,118 shares of the company’s stock worth $2,577,000 after acquiring an additional 4,457 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of PACCAR by 7,540.3% during the third quarter. International Assets Investment Management LLC now owns 289,034 shares of the company’s stock worth $28,522,000 after purchasing an additional 285,251 shares during the period. Nisa Investment Advisors LLC raised its position in shares of PACCAR by 1.4% during the third quarter. Nisa Investment Advisors LLC now owns 213,294 shares of the company’s stock worth $21,048,000 after purchasing an additional 2,920 shares during the period. abrdn plc lifted its holdings in shares of PACCAR by 7.4% in the 3rd quarter. abrdn plc now owns 247,516 shares of the company’s stock worth $24,283,000 after purchasing an additional 17,084 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in PACCAR by 111.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,649 shares of the company’s stock valued at $656,000 after purchasing an additional 3,498 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PCAR shares. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Citigroup cut their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $106.58 on Wednesday. The stock has a 50 day moving average of $107.28 and a 200 day moving average of $105.53. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. 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 data 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%. As a group, sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) 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.