Pacific Sage Partners LLC Trims Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Pacific Sage Partners LLC lowered its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,162 shares of the company's stock after selling 4,005 shares during the period. Pacific Sage Partners LLC's holdings in PACCAR were worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PCAR. Wellington Management Group LLP grew its holdings 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 buying an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC increased its position in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after purchasing an additional 362,637 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after purchasing an additional 572,231 shares during the last quarter. FMR LLC raised its stake in PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after purchasing an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp lifted its position in PACCAR by 8.5% during the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after purchasing an additional 565,967 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PCAR shares. Truist Financial reduced their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $104.59.

Insider Activity

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.02% of the company's stock.

PACCAR Trading Up 2.5%

PCAR stock traded up $2.26 during midday trading on Tuesday, reaching $94.01. The company's stock had a trading volume of 2,344,363 shares, compared to its average volume of 2,750,067. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a fifty day simple moving average of $92.17 and a two-hundred day simple moving average of $100.09. The firm has a market capitalization of $49.35 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 3.36 and a beta of 0.95. 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 issued its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period last year, the firm earned $2.27 earnings per share. The company's revenue for the quarter was down 16.0% on a year-over-year basis. On average, equities research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.40%. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

PACCAR Company 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.