PACCAR Inc. $PCAR Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 33.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,181 shares of the company's stock after selling 47,669 shares during the period. QRG Capital Management Inc.'s holdings in PACCAR were worth $10,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Ares Financial Consulting LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at $27,000. Camelot Portfolios LLC acquired a new stake in PACCAR in the 4th quarter valued at about $33,000. Wealth Watch Advisors INC bought a new position in shares of PACCAR during the 3rd quarter valued at about $32,000. True Wealth Design LLC boosted its position in shares of PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company's stock valued at $40,000 after purchasing an additional 138 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of PACCAR in the 3rd quarter worth approximately $38,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR opened at $113.42 on Wednesday. PACCAR Inc. has a one year low of $88.35 and a one year high of $131.88. The company has a 50-day moving average of $120.62 and a two-hundred day moving average of $114.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The stock has a market cap of $59.69 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.06 and a beta of 1.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The firm's quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc. will post 5.6 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, May 13th. This is a boost from PACCAR's previous quarterly dividend of $0.33. PACCAR's dividend payout ratio is 28.09%.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 2,200 shares of the company's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the transaction, the chief financial officer owned 903 shares in the company, valued at $117,760.23. This represents a 70.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup reiterated a "neutral" rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price target on the stock. Truist Financial upped their price target on PACCAR from $120.00 to $126.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of PACCAR in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of "Hold" and a consensus price target of $117.83.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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