PACCAR Inc (NASDAQ:PCAR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024,119 shares of the company’s stock after selling 14,143 shares during the period. Rhumbline Advisers owned about 0.20% of PACCAR worth $106,529,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PCAR. Golden State Wealth Management LLC acquired a new position in PACCAR during the 4th quarter worth $37,000. Regents Gate Capital LLP bought a new position in shares of PACCAR in the 4th quarter worth about $44,000. Sander Capital Advisors Inc. bought a new position in shares of PACCAR in the 3rd quarter worth about $50,000. Ashton Thomas Securities LLC bought a new position in shares of PACCAR in the 3rd quarter worth about $52,000. Finally, AdvisorNet Financial Inc lifted its position in shares of PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after buying an additional 391 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on PCAR. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $121.95.

PACCAR Stock Up 0.7 %

PACCAR stock opened at $105.96 on Friday. The stock has a market cap of $55.55 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.79 and a beta of 0.92. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $108.32 and its two-hundred day moving average price is $104.79. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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, analysts expect that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 15.17%.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,871 shares of company stock valued at $14,586,333. Company insiders own 2.02% of the company’s stock.

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.