Principal Financial Group Inc. Sells 149,166 Shares of PACCAR Inc. (NASDAQ:PCAR)

Principal Financial Group Inc. lessened its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,131,105 shares of the company's stock after selling 149,166 shares during the quarter. Principal Financial Group Inc. owned approximately 0.60% of PACCAR worth $304,876,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. Mutual Advisors LLC grew its holdings in shares of PACCAR by 10.8% during the first quarter. Mutual Advisors LLC now owns 2,513 shares of the company's stock valued at $231,000 after purchasing an additional 244 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of 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 during the last quarter. Smart Money Group LLC boosted its position in PACCAR by 37.1% during the 1st quarter. Smart Money Group LLC now owns 8,462 shares of the company's stock worth $824,000 after acquiring an additional 2,288 shares during the period. Capital Investment Counsel Inc increased its holdings in shares of PACCAR by 10.3% during the first quarter. Capital Investment Counsel Inc now owns 9,625 shares of the company's stock valued at $937,000 after purchasing an additional 900 shares during the period. Finally, DAVENPORT & Co LLC bought a new stake in shares of PACCAR during the first quarter valued at about $246,000. Institutional investors own 64.90% of the company's stock.

Insiders Place Their Bets

In related news, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director owned 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a report on Wednesday, April 16th. Evercore ISI dropped their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $104.59.

PACCAR Stock Performance

PACCAR stock traded down $2.07 on Friday, reaching $97.28. 1,914,518 shares of the stock were exchanged, compared to its average volume of 2,721,498. 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 firm has a fifty day moving average price of $93.34 and a two-hundred day moving average price of $99.29. The stock has a market cap of $51.07 billion, a PE ratio of 14.74, a PEG ratio of 3.67 and a beta of 0.94. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its 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). 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 last year, the business earned $2.27 EPS. The business's quarterly revenue was down 16.0% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date was Wednesday, May 14th. PACCAR's payout ratio is currently 20.00%.

PACCAR 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.