Axa S.A. Sells 161,353 Shares of PACCAR Inc (NASDAQ:PCAR)

AXA S.A. reduced its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 727,149 shares of the company's stock after selling 161,353 shares during the period. AXA S.A. owned approximately 0.14% of PACCAR worth $75,638,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCAR. Meeder Asset Management Inc. grew its holdings in 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 acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC bought a new position in PACCAR during the 4th quarter worth approximately $37,000. OFI Invest Asset Management bought a new position in PACCAR during the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc bought a new stake in shares of PACCAR in the 4th quarter valued at approximately $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PCAR shares. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. StockNews.com lowered PACCAR from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Truist Financial lowered their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Hold" and an average target price of $107.23.

PACCAR Price Performance

NASDAQ:PCAR traded down $0.47 on Tuesday, reaching $88.98. The stock had a trading volume of 2,484,452 shares, compared to its average volume of 2,756,476. The stock has a fifty day moving average price of $95.64 and a 200-day moving average price of $104.64. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a market capitalization of $46.71 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates 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%. The firm's quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.27 earnings per share. Research analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

About PACCAR

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.