PACCAR Inc. (NASDAQ:PCAR) Shares Purchased by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in PACCAR Inc. by 99.4% in Q1, owning approximately 0.18% of the company, which is valued at $91.94 million after acquiring 470,593 additional shares.
• Insider trading was noted, with CEO R. Preston Feight selling 39,965 shares and CFO Brice J. Poplawski selling 5,000 shares of PACCAR, indicating significant decreases in their ownership percentages.
• PACCAR announced a quarterly dividend of $0.33, with a payout ratio of 22.60%, and the dividend will be paid to investors of record on September 4th.

Citigroup Inc. raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 99.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 944,237 shares of the company's stock after buying an additional 470,593 shares during the period. Citigroup Inc. owned approximately 0.18% of PACCAR worth $91,940,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. boosted its position in shares of PACCAR by 33.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after purchasing an additional 116 shares in the last quarter. RMR Wealth Builders boosted its position in shares of PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock valued at $848,000 after purchasing an additional 122 shares in the last quarter. Applied Capital LLC FL lifted its stake in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock valued at $2,455,000 after buying an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock valued at $4,390,000 after buying an additional 130 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock valued at $228,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was 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 approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Up 0.6%

PACCAR stock opened at $97.34 on Friday. The company has a market capitalization of $51.11 billion, a P/E ratio of 16.67, a P/E/G ratio of 3.91 and a beta of 0.91. The firm's fifty day simple moving average is $95.72 and its 200-day simple moving average is $97.49. 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 Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The business had revenue of $6.96 billion for 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%. PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 EPS. Sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is 22.60%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of analyst reports. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research note on Monday, July 28th. Evercore ISI reduced their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup upped their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, Truist Financial dropped their target price on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.77.

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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