KBC Group NV Sells 169,608 Shares of PACCAR Inc. (NASDAQ:PCAR)

KBC Group NV decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 24.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 519,200 shares of the company's stock after selling 169,608 shares during the quarter. KBC Group NV owned 0.10% of PACCAR worth $50,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. PDS Planning Inc boosted its holdings in PACCAR by 3.7% in the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company's stock worth $292,000 after purchasing an additional 101 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of PACCAR by 14.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock valued at $88,000 after purchasing an additional 107 shares during the period. Claris Advisors LLC MO raised its position in shares of PACCAR by 1.5% during the 4th quarter. Claris Advisors LLC MO now owns 7,209 shares of the company's stock valued at $750,000 after purchasing an additional 108 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in PACCAR by 33.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after acquiring an additional 116 shares during the last quarter. Finally, Norden Group LLC increased its holdings in PACCAR by 3.8% in the 4th quarter. Norden Group LLC now owns 3,251 shares of the company's stock valued at $338,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Activity

In other news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PCAR. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Royal Bank Of Canada lowered their price objective on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PACCAR presently has an average rating of "Hold" and a consensus target price of $104.59.

PACCAR Trading Up 0.0%

NASDAQ PCAR opened at $94.89 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. 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 $49.81 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 3.51 and a beta of 0.95. The company has a 50 day moving average price of $92.69 and a 200 day moving average price of $99.53.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) 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 company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the previous year, the company posted $2.27 EPS. The company's revenue for the quarter was down 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

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

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.

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