Credit Agricole S A Reduces Position in PACCAR Inc. $PCAR

Key Points

• Credit Agricole S A has reduced its stake in PACCAR Inc. by 52.6%, selling 125,762 shares and now holding 113,519 shares valued at over $11 million.
• Several institutional investors have significantly increased their holdings in PACCAR, with E Fund Management raising its stake by 666.7% in the first quarter.
• PACCAR announced a quarterly dividend of $0.33, representing an annualized yield of 1.3%, to be paid on September 4th to shareholders of record on August 14th.

Credit Agricole S A cut its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 52.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,519 shares of the company's stock after selling 125,762 shares during the period. Credit Agricole S A's holdings in PACCAR were worth $11,053,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. raised its position in PACCAR by 666.7% in 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 period. Alpine Bank Wealth Management bought a new stake in shares of PACCAR during the 1st quarter valued at $29,000. Sunbelt Securities Inc. raised its position in shares of 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 purchasing an additional 350 shares during the period. Bayforest Capital Ltd raised its position in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after purchasing an additional 274 shares during the period. Finally, Accent Capital Management LLC bought a new stake in shares of PACCAR during the 1st quarter valued at $40,000. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on 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 transaction, the chief financial officer directly owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% 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.

Analysts Set New Price Targets

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

PACCAR Price Performance

PCAR traded down $1.0050 during trading on Monday, hitting $100.4950. 1,471,220 shares of the company traded hands, compared to its average volume of 2,866,270. The company has a market cap of $52.77 billion, a PE ratio of 17.21, a P/E/G ratio of 4.07 and a beta of 0.91. The stock's 50-day simple moving average is $96.87 and its two-hundred day simple moving average is $96.68. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the company posted $2.13 EPS. The business's revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate 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 will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

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.