Nuveen Asset Management LLC Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Nuveen Asset Management LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,056,052 shares of the company's stock after selling 20,611 shares during the quarter. Nuveen Asset Management LLC owned 0.20% of PACCAR worth $109,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PACCAR in the fourth quarter worth about $2,600,000. Obermeyer Wealth Partners purchased a new position in shares of PACCAR in the 4th quarter valued at approximately $425,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PACCAR by 6.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 400,778 shares of the company's stock worth $41,689,000 after purchasing an additional 25,493 shares in the last quarter. Moore Capital Management LP purchased a new stake in PACCAR during the 4th quarter worth approximately $8,863,000. Finally, LMR Partners LLP purchased a new stake in PACCAR during the 4th quarter worth approximately $2,962,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction that occurred on 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 purchase, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. This represents a 62.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PCAR. Evercore ISI lowered their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a research report on Wednesday, April 16th. Truist Financial dropped their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. Finally, UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $108.00 to $78.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $104.14.

PACCAR Stock Performance

NASDAQ PCAR traded up $0.02 during mid-day trading on Thursday, reaching $94.35. 439,459 shares of the stock were exchanged, compared to its average volume of 2,769,136. The company has a market capitalization of $49.53 billion, a P/E ratio of 11.94, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business's 50 day moving average is $93.09 and its 200-day moving average is $103.70. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81.

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

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.40%. PACCAR's dividend payout ratio (DPR) is 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.