Robeco Institutional Asset Management B.V. Cuts Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Robeco Institutional Asset Management B.V. trimmed its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 236,675 shares of the company's stock after selling 47,026 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in PACCAR were worth $23,045,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter valued at about $526,922,000. Kovitz Investment Group Partners LLC lifted its stake in shares of PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock worth $557,453,000 after acquiring an additional 4,219,964 shares during the period. Wellington Management Group LLP increased its position in PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Madison Investment Advisors LLC bought a new position in PACCAR during the 4th quarter worth approximately $254,651,000. Finally, GAMMA Investing LLC lifted its position in shares of PACCAR by 10,716.5% in the 1st quarter. GAMMA Investing LLC now owns 879,056 shares of the company's stock worth $85,594,000 after purchasing an additional 870,929 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PCAR shares. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Truist Financial lowered their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Evercore ISI lowered their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Finally, Royal Bank Of Canada dropped their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $104.59.

PACCAR Stock Up 3.3%

PACCAR stock traded up $3.14 during mid-day trading on Tuesday, reaching $98.20. The stock had a trading volume of 3,441,498 shares, compared to its average volume of 2,720,896. The firm has a market capitalization of $51.55 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 3.52 and a beta of 0.94. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The stock's 50-day simple moving average is $93.04 and its 200-day simple moving average is $99.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35.

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 the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period in the previous year, the business posted $2.27 EPS. The business's revenue for the quarter was down 16.0% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's payout ratio is presently 20.00%.

Insider Buying and Selling at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director owned 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 filing with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is owned by corporate insiders.

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.