Baird Financial Group Inc. Lowers Position in PACCAR Inc (NASDAQ:PCAR)

Baird Financial Group Inc. decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,025,721 shares of the company's stock after selling 6,063 shares during the period. Baird Financial Group Inc. owned about 0.20% of PACCAR worth $106,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PCAR. Meeder Asset Management Inc. grew its stake in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR in the 4th quarter worth $37,000. OFI Invest Asset Management bought a new stake in shares of PACCAR during the 4th quarter worth $43,000. Finally, Atala Financial Inc bought a new stake in PACCAR during the fourth quarter worth about $43,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Down 0.3 %

PCAR stock traded down $0.26 on Wednesday, reaching $88.72. 2,351,540 shares of the company traded hands, compared to its average volume of 2,756,735. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a fifty day simple moving average of $95.31 and a 200-day simple moving average of $104.53. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81. The company has a market cap of $46.57 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

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

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.49%. PACCAR's dividend payout ratio (DPR) is 20.00%.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 28,676 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares of the company's stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PCAR. Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Finally, Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $107.23.

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.