Ameriprise Financial Inc. Sells 154,157 Shares of PACCAR Inc (NASDAQ:PCAR)

Ameriprise Financial Inc. lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,885 shares of the company's stock after selling 154,157 shares during the period. Ameriprise Financial Inc. owned approximately 0.16% of PACCAR worth $88,038,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PCAR. Norges Bank bought a new stake in shares of PACCAR during the 4th quarter worth approximately $526,922,000. Kovitz Investment Group Partners LLC lifted its position in PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock worth $557,453,000 after acquiring an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Madison Investment Advisors LLC acquired a new position in shares of PACCAR in the fourth quarter valued at approximately $254,651,000. Finally, JPMorgan Chase & Co. increased its stake in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Trading Down 0.3%

Shares of NASDAQ:PCAR traded down $0.31 during trading on Wednesday, reaching $95.62. The stock had a trading volume of 577,295 shares, compared to its average volume of 2,758,099. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm's fifty day moving average is $94.10 and its 200 day moving average is $104.08. The stock has a market cap of $50.20 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period last year, the business posted $2.27 EPS. The company's revenue was down 16.0% on a year-over-year basis. As a group, equities analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's dividend payout ratio is currently 20.00%.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 28,676 shares of the 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 approximately $12,150,414.23. This represents a 20.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $105.23.

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.