Schroder Investment Management Group Decreases Position in PACCAR Inc (NASDAQ:PCAR)

Schroder Investment Management Group lowered its position in PACCAR Inc (NASDAQ:PCAR) by 6.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 537,142 shares of the company’s stock after selling 35,733 shares during the period. Schroder Investment Management Group’s holdings in PACCAR were worth $55,653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Madrona Financial Services LLC increased its holdings in PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after acquiring an additional 91 shares in the last quarter. Global Financial Private Client LLC grew its position in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc increased its stake in shares of PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after purchasing an additional 101 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in PACCAR by 14.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock valued at $88,000 after buying an additional 107 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Evercore ISI reduced their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $117.54.

PACCAR Trading Up 0.5 %

PCAR stock opened at $97.37 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a market cap of $51.11 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.77 and a beta of 0.91. The business has a fifty day simple moving average of $104.93 and a 200-day simple moving average of $106.74. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $124.39.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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, equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is 16.69%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is owned by company insiders.

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.