PACCAR Inc. $PCAR Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. has reduced its holdings in PACCAR Inc. by 7.8%, now owning 92,019 shares valued at approximately $8.96 million.
• The company recently announced a quarterly dividend of $0.33 per share, representing a yield of 1.3% and will be paid on September 4th to shareholders of record on August 14th.
• Analysts have mixed sentiments on PACCAR, with a consensus rating of "Moderate Buy" and a target price averaging $107.77 amidst recent upgrades and downgrades from various financial institutions.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,019 shares of the company's stock after selling 7,764 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in PACCAR were worth $8,959,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the last quarter. Northern Trust Corp grew its holdings in shares of PACCAR by 0.5% during the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock worth $704,956,000 after purchasing an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock worth $594,277,000 after purchasing an additional 97,197 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer owned 223,190 shares of the company's stock, valued at approximately $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 owned by company insiders.

PACCAR Stock Performance

NASDAQ:PCAR traded down $1.28 during mid-day trading on Wednesday, reaching $98.18. The stock had a trading volume of 1,820,625 shares, compared to its average volume of 2,810,270. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The firm has a market capitalization of $51.55 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.99 and a beta of 0.91. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The business has a 50 day simple moving average of $96.60 and a 200 day simple moving average of $96.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm's revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. On average, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Truist Financial decreased their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and increased their target price for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.68.

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.