Russell Investments Group Ltd. Sells 37,150 Shares of PACCAR Inc (NASDAQ:PCAR)

Russell Investments Group Ltd. reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 371,819 shares of the company’s stock after selling 37,150 shares during the quarter. Russell Investments Group Ltd.’s holdings in PACCAR were worth $38,676,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of PACCAR during the 4th quarter valued at $526,922,000. Wellington Management Group LLP increased its stake in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of PACCAR during the fourth quarter valued at about $254,651,000. JPMorgan Chase & Co. boosted its position in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after buying an additional 572,231 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated 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 owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research reports. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup cut their target price on PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $108.00 to $78.00 in a report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.04.

PACCAR Trading Down 3.0 %

Shares of PACCAR stock opened at $88.14 on Tuesday. The firm has a market cap of $46.27 billion, a PE ratio of 11.14, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $86.12 and a 1 year high of $123.20. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a fifty day moving average price of $103.31 and a 200-day moving average price of $106.63.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.50%. PACCAR’s dividend payout ratio is presently 16.69%.

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.