PACCAR Inc. (NASDAQ:PCAR) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 343,335 shares of the company's stock after selling 13,055 shares during the quarter. QRG Capital Management Inc. owned about 0.07% of PACCAR worth $33,431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PCAR. Meeder Asset Management Inc. lifted its holdings in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after buying an additional 193 shares during the period. Kestra Investment Management LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $37,000. Sunbelt Securities Inc. lifted its holdings in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares during the period. OFI Invest Asset Management acquired a new position in shares of PACCAR in the 4th quarter valued at about $43,000. Finally, Atala Financial Inc acquired a new position in shares of PACCAR in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity

In related news, Director Pierre R. Breber purchased 5,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Evercore ISI cut their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Citigroup cut their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial cut their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PACCAR has a consensus rating of "Hold" and an average target price of $104.14.

PACCAR Price Performance

NASDAQ:PCAR traded down $1.60 during trading hours on Tuesday, hitting $91.10. 2,494,821 shares of the stock were exchanged, compared to its average volume of 2,739,440. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The firm's fifty day moving average price is $92.20 and its 200 day moving average price is $101.00. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The company has a market cap of $47.82 billion, a P/E ratio of 13.80, a P/E/G ratio of 3.43 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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). The company had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. PACCAR's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the company earned $2.27 earnings per share. As a group, equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were given a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. PACCAR's dividend payout ratio (DPR) is presently 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.