Caxton Associates LP Sells 4,791 Shares of PACCAR Inc (NASDAQ:PCAR)

Caxton Associates LP cut its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 65.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,544 shares of the company's stock after selling 4,791 shares during the quarter. Caxton Associates LP's holdings in PACCAR were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Meeder Asset Management Inc. lifted its holdings in shares of PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new position in PACCAR in the 4th quarter valued at $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the fourth quarter worth $43,000. Finally, Atala Financial Inc bought a new stake in PACCAR during the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PCAR. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Citigroup cut their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $105.23.

Insider Activity

In other news, CFO Harrie Schippers sold 28,676 shares of the 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 completion of the transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the business'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 sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

PACCAR Trading Down 1.0 %

Shares of PACCAR stock traded down $0.95 on Friday, hitting $90.61. The stock had a trading volume of 2,238,168 shares, compared to its average volume of 2,764,008. The stock's 50-day simple moving average is $94.45 and its two-hundred day simple moving average is $104.21. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81. 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 stock has a market cap of $47.57 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96.

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

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. PACCAR's dividend payout ratio is 20.00%.

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.