AQR Capital Management LLC Has $63.60 Million Stock Holdings in PACCAR Inc. $PCAR

Key Points

• AQR Capital Management LLC has reduced its stake in PACCAR Inc. by 4.0%, now holding approximately 659,753 shares valued at $63.6 million after selling 27,380 shares in the first quarter.
• Company insiders including CFO Brice J. Poplawski and CEO R. Preston Feight have sold significant portions of their holdings, indicating potential shifts in insider confidence.
• Analysts have upgraded their ratings on PACCAR, with the average target price now at $107.68, while the stock has a range of ratings from Strong Buy to Hold.

AQR Capital Management LLC cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 659,753 shares of the company's stock after selling 27,380 shares during the quarter. AQR Capital Management LLC owned about 0.13% of PACCAR worth $63,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. increased its stake in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR during the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its stake in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the last quarter. Bayforest Capital Ltd grew its holdings in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in PACCAR during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial cut their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Citigroup lifted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a report on Monday, July 28th. Finally, Vertical Research upgraded PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, PACCAR currently has an average rating of "Moderate Buy" and a consensus target price of $107.68.

Insider Buying and Selling

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

PACCAR stock traded up $3.10 during mid-day trading on Thursday, reaching $101.76. The company had a trading volume of 2,671,013 shares, compared to its average volume of 1,971,488. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a market cap of $53.43 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 3.96 and a beta of 0.94. The company has a 50 day moving average of $98.38 and a 200-day moving average of $96.19. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company's revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 EPS. On average, sell-side analysts expect 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, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's dividend payout ratio is presently 22.60%.

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.