PACCAR Inc (NASDAQ:PCAR) Holdings Lowered by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 16.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 87,893 shares of the company's stock after selling 16,913 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in PACCAR were worth $9,143,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR in the fourth quarter valued at $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the 4th quarter valued at about $37,000. Atala Financial Inc purchased a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. Finally, Regents Gate Capital LLP purchased a new position in PACCAR during the fourth quarter worth $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction dated 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 transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was 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. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Truist Financial cut their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Citigroup reduced their price objective on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and an average price target of $108.59.

PACCAR Stock Down 1.9 %

NASDAQ PCAR traded down $1.72 during trading hours on Friday, reaching $90.97. 786,862 shares of the company traded hands, compared to its average volume of 2,745,075. 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 Inc has a 12 month low of $85.05 and a 12 month high of $118.81. The company has a 50 day moving average of $97.84 and a two-hundred day moving average of $105.43. The stock has a market capitalization of $47.75 billion, a PE ratio of 11.54, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate 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, equities analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is an increase from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. PACCAR's payout ratio is 16.69%.

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.