Federated Hermes Inc. Lowers Position in PACCAR Inc (NASDAQ:PCAR)

Federated Hermes Inc. reduced its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 91.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,505 shares of the company's stock after selling 16,619 shares during the period. Federated Hermes Inc.'s holdings in PACCAR were worth $157,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PCAR. Everence Capital Management Inc. acquired a new position in PACCAR during the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. raised its position in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after purchasing an additional 6,494 shares during the period. LPL Financial LLC grew its position in PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after purchasing an additional 12,143 shares during the period. Insight Wealth Strategies LLC increased its stake in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in PACCAR by 19.3% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the company's stock worth $138,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PCAR traded up $1.90 during mid-day trading on Thursday, hitting $90.98. The stock had a trading volume of 702,236 shares, compared to its average volume of 2,744,709. PACCAR Inc has a 52 week low of $85.05 and a 52 week high of $118.81. 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 business has a fifty day moving average price of $98.11 and a 200-day moving average price of $105.50. The firm has a market cap of $47.76 billion, a P/E ratio of 11.50, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PCAR. Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Truist Financial dropped their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, Morgan Stanley lowered 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 note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PACCAR presently has an average rating of "Hold" and a consensus target price of $108.59.

Insiders Place Their Bets

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company's stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last 90 days. Corporate insiders own 2.02% of the company's stock.

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.