Freedom Investment Management Inc. Cuts Stake in PACCAR Inc (NASDAQ:PCAR)

Freedom Investment Management Inc. lowered its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 36.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,963 shares of the company's stock after selling 2,900 shares during the period. Freedom Investment Management Inc.'s holdings in PACCAR were worth $516,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Everence Capital Management Inc. acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. lifted its stake in shares of PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after acquiring an additional 6,494 shares during the period. LPL Financial LLC raised its stake in PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company's stock worth $22,094,000 after buying an additional 12,143 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock worth $4,061,000 after acquiring an additional 6,936 shares during the period. Finally, Versant Capital Management Inc lifted its stake in PACCAR by 19.3% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the company's stock valued at $138,000 after buying an additional 214 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCAR. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and cut their price target for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday, April 16th. Finally, Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $108.59.

PACCAR Stock Down 0.9 %

PCAR stock traded down $0.79 during trading on Friday, hitting $91.89. 2,869,209 shares of the stock traded hands, compared to its average volume of 2,750,770. The stock has a market cap of $48.24 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1 year low of $85.05 and a 1 year high of $118.81. The firm's 50 day moving average is $97.55 and its two-hundred day moving average is $105.35.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. PACCAR's dividend payout ratio (DPR) is 16.69%.

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.