Caisse DE Depot ET Placement DU Quebec Sells 999,168 Shares of PACCAR Inc (NASDAQ:PCAR)

Caisse DE Depot ET Placement DU Quebec lessened its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 89.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 123,672 shares of the company's stock after selling 999,168 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in PACCAR were worth $12,864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after buying an additional 178,813 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of PACCAR in the 3rd quarter valued at $419,000. Wilmington Savings Fund Society FSB purchased a new stake in PACCAR during the 3rd quarter worth $269,000. Synovus Financial Corp lifted its stake in shares of PACCAR by 16.6% during the third quarter. Synovus Financial Corp now owns 8,899 shares of the company's stock worth $878,000 after purchasing an additional 1,267 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after buying an additional 1,164,692 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

PCAR traded down $0.26 during trading on Wednesday, reaching $88.72. The stock had a trading volume of 2,351,540 shares, compared to its average volume of 2,754,864. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81. The firm has a market capitalization of $46.57 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock has a 50 day moving average of $95.31 and a two-hundred day moving average of $104.53. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

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

PACCAR Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.49%. PACCAR's dividend payout ratio is 20.00%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. StockNews.com downgraded shares of PACCAR from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and cut their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. Finally, Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of "Hold" and an average target price of $107.23.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. The trade was 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 company insiders.

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.