MetLife Investment Management LLC Sells 2,575 Shares of PACCAR Inc. $PCAR

Key Points

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MetLife Investment Management LLC lessened its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,019 shares of the company's stock after selling 2,575 shares during the quarter. MetLife Investment Management LLC's holdings in PACCAR were worth $13,244,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after buying an additional 290 shares during the period. Price T Rowe Associates Inc. MD lifted its position in PACCAR by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 791,944 shares of the company's stock worth $82,379,000 after buying an additional 8,757 shares during the period. MGO One Seven LLC purchased a new position in PACCAR during the fourth quarter worth about $247,000. Voya Investment Management LLC lifted its position in PACCAR by 41.8% during the fourth quarter. Voya Investment Management LLC now owns 158,210 shares of the company's stock worth $16,457,000 after buying an additional 46,616 shares during the period. Finally, Bellwether Advisors LLC purchased a new position in PACCAR during the fourth quarter worth about $62,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

NASDAQ PCAR traded down $0.70 during trading on Friday, hitting $99.98. The company's stock had a trading volume of 2,225,815 shares, compared to its average volume of 2,854,216. 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 $52.50 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 4.07 and a beta of 0.91. The firm has a 50 day moving average price of $97.62 and a 200 day moving average price of $96.66. 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 results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. PACCAR's revenue was down 15.7% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR's dividend payout ratio is 22.60%.

Insider Buying and Selling at PACCAR

In related news, 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the company'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 of the company's stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

PCAR has been the subject of a number of research reports. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial lowered their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a report 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 given a Hold rating to the company. According to MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and a consensus price target 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.