D. E. Shaw & Co. Inc. Decreases Holdings in PACCAR Inc (NASDAQ:PCAR)

D. E. Shaw & Co. Inc. lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 88.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 114,988 shares of the company's stock after selling 849,186 shares during the period. D. E. Shaw & Co. Inc.'s holdings in PACCAR were worth $11,961,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. raised its holdings in PACCAR by 221.8% during 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 during the last quarter. Golden State Wealth Management LLC acquired a new position in PACCAR during the fourth quarter worth $37,000. Kestra Investment Management LLC acquired a new position in PACCAR during the fourth quarter worth $37,000. OFI Invest Asset Management acquired a new position in PACCAR during the fourth quarter worth $43,000. Finally, Atala Financial Inc acquired a new position in PACCAR during the fourth quarter worth $43,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Ratings Changes

PCAR has been the topic of several research reports. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday, April 16th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Royal Bank of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have issued 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.com, PACCAR presently has an average rating of "Hold" and an average target price of $105.23.

PACCAR Stock Performance

PCAR traded up $0.74 during trading on Friday, hitting $96.71. 2,436,378 shares of the company traded hands, compared to its average volume of 2,776,311. The firm has a market cap of $50.77 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock's fifty day moving average is $93.34 and its 200 day moving average is $103.87. 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 Inc has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results 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 for 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%. PACCAR's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.27 EPS. As a group, equities analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. PACCAR's dividend payout ratio is presently 20.00%.

Insiders Place Their Bets

In other news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares in the company, valued at approximately $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. Company insiders own 2.02% of the company's stock.

PACCAR 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.