Teza Capital Management LLC Sells 33,965 Shares of PACCAR Inc (NASDAQ:PCAR)

Teza Capital Management LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 91.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,153 shares of the company's stock after selling 33,965 shares during the period. Teza Capital Management LLC's holdings in PACCAR were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of PACCAR during the fourth quarter worth approximately $526,922,000. Kovitz Investment Group Partners LLC boosted its stake in shares of PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after purchasing an additional 4,219,964 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 last quarter. Madison Investment Advisors LLC purchased a new position in PACCAR in the 4th quarter worth $254,651,000. Finally, JPMorgan Chase & Co. lifted its stake in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCAR shares. Citigroup reduced their price objective on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reduced their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Finally, Melius Research set a $120.00 price objective on PACCAR in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued 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.com, PACCAR presently has an average rating of "Hold" and a consensus target price of $104.14.

Insiders Place Their Bets

In related news, Director Pierre R. Breber bought 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company's stock.

PACCAR Trading Down 1.2%

Shares of PCAR stock traded down $1.09 during trading hours on Friday, reaching $93.24. The company's stock had a trading volume of 2,249,642 shares, compared to its average volume of 2,772,844. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81. The stock has a market capitalization of $48.95 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.77 and a beta of 0.96. The firm's fifty day simple moving average is $92.96 and its 200 day simple moving average is $103.62.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the previous year, the business earned $2.27 EPS. The business's revenue was down 16.0% compared to the same quarter last year. Equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's payout ratio is currently 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.