Allspring Global Investments Holdings LLC Decreases Stake in PACCAR Inc (NASDAQ:PCAR)

Allspring Global Investments Holdings LLC lowered its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 44.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 175,886 shares of the company's stock after selling 138,408 shares during the period. Allspring Global Investments Holdings LLC's holdings in PACCAR were worth $17,175,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. OFI Invest Asset Management bought a new stake in PACCAR in the 3rd quarter worth $26,000. ST Germain D J Co. Inc. grew its holdings in PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company's stock worth $29,000 after acquiring an additional 130 shares during the last quarter. Arlington Trust Co LLC bought a new stake in PACCAR in the 3rd quarter worth $30,000. Finally, Bruce G. Allen Investments LLC bought a new stake in PACCAR in the 4th quarter worth $37,000. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Down 0.1 %

PACCAR stock traded down $0.14 during trading hours on Monday, hitting $118.02. The stock had a trading volume of 1,958,967 shares, compared to its average volume of 2,284,884. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $61.84 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The stock's 50-day moving average price is $114.94 and its 200-day moving average price is $100.01.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to analysts' expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 earnings per share. Equities research analysts anticipate that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were issued a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.92%. PACCAR's dividend payout ratio (DPR) is presently 12.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a report on Tuesday, February 20th. Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 price target on the stock. UBS Group raised shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Bank of America raised shares of PACCAR from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Finally, The Goldman Sachs Group lifted their target price on shares of PACCAR from $93.00 to $106.00 and gave the company a "neutral" rating in a research note on Wednesday, January 24th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $109.75.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 5,000 shares of the business's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the sale, the chief financial officer now owns 103,547 shares of the company's stock, valued at $10,589,751.69. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last three months. 2.02% of the stock is currently owned by company insiders.

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.