Bessemer Group Inc. Sells 22,493 Shares of PACCAR Inc. (NASDAQ:PCAR)

Bessemer Group Inc. reduced its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 61.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,945 shares of the company's stock after selling 22,493 shares during the quarter. Bessemer Group Inc.'s holdings in PACCAR were worth $1,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCAR. Norges Bank bought a new position in shares of PACCAR during the fourth quarter valued at $526,922,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after acquiring an additional 4,219,964 shares during the period. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Madison Investment Advisors LLC bought a new position in shares of PACCAR in the fourth quarter valued at about $254,651,000. Finally, GAMMA Investing LLC raised its holdings in shares of PACCAR by 10,716.5% in the first quarter. GAMMA Investing LLC now owns 879,056 shares of the company's stock valued at $85,594,000 after buying an additional 870,929 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other news, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.02% of the stock is currently owned by insiders.

PACCAR Trading Up 0.0%

Shares of PACCAR stock opened at $94.89 on Monday. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The stock has a market cap of $49.81 billion, a P/E ratio of 14.38, a P/E/G ratio of 3.51 and a beta of 0.95. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The business's 50 day moving average is $92.69 and its 200-day moving average is $99.53.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly 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). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. 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 company posted $2.27 EPS. The firm's revenue was down 16.0% on a year-over-year basis. Equities research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group cut 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. Truist Financial dropped their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Evercore ISI decreased their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Finally, Royal Bank Of Canada decreased their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PACCAR has an average rating of "Hold" and an average price target of $104.59.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.