MML Investors Services LLC Sells 5,288 Shares of PACCAR Inc (NASDAQ:PCAR)

MML Investors Services LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,104 shares of the company's stock after selling 5,288 shares during the quarter. MML Investors Services LLC's holdings in PACCAR were worth $4,068,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PCAR. Meeder Asset Management Inc. grew its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR during the fourth quarter worth approximately $37,000. Atala Financial Inc bought a new position in PACCAR during the 4th quarter worth $43,000. Finally, Regents Gate Capital LLP acquired a new position in PACCAR in the 4th quarter valued at $44,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of PCAR traded up $0.50 during trading hours on Thursday, reaching $90.71. The stock had a trading volume of 687,958 shares, compared to its average volume of 2,752,494. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The stock has a market capitalization of $47.62 billion, a PE ratio of 11.48, a PEG ratio of 2.77 and a beta of 0.96. The company's 50-day moving average is $96.64 and its two-hundred day moving average is $105.06.

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

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR's dividend payout ratio is presently 16.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $105.00 to $90.00 in a research report on Wednesday. Finally, Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PACCAR presently has a consensus rating of "Hold" and an average target price of $107.23.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. 2.02% of the stock is currently owned by insiders.

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.