PACCAR Inc (NASDAQ:PCAR) Position Cut by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 873,087 shares of the company’s stock after selling 37,150 shares during the period. Royal London Asset Management Ltd.’s holdings in PACCAR were worth $90,819,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PCAR. Harvest Fund Management Co. Ltd boosted its stake in PACCAR by 32.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 31,980 shares of the company’s stock valued at $3,313,000 after purchasing an additional 7,833 shares during the period. Xponance Inc. boosted its position in shares of PACCAR by 3.9% during the fourth quarter. Xponance Inc. now owns 74,319 shares of the company’s stock worth $7,731,000 after buying an additional 2,769 shares during the period. Generali Asset Management SPA SGR bought a new position in PACCAR in the 4th quarter worth approximately $6,437,000. Horizon Investments LLC increased its position in PACCAR by 1.9% in the 4th quarter. Horizon Investments LLC now owns 15,955 shares of the company’s stock valued at $1,660,000 after acquiring an additional 297 shares during the period. Finally, Advisors Asset Management Inc. increased its position in PACCAR by 18.5% in the 4th quarter. Advisors Asset Management Inc. now owns 61,628 shares of the company’s stock valued at $6,411,000 after acquiring an additional 9,641 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In related news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.6 %

NASDAQ:PCAR opened at $99.59 on Thursday. The stock has a fifty day simple moving average of $106.68 and a 200 day simple moving average of $106.45. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $52.27 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its 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 return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company 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 an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PCAR. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $124.00 to $108.00 in a research note on Tuesday. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Melius Research upgraded shares of PACCAR to a “strong-buy” rating in a report on Tuesday. Finally, Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.23.

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.