Los Angeles Capital Management LLC Sells 10,368 Shares of PACCAR Inc (NASDAQ:PCAR)

Los Angeles Capital Management LLC lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,534,990 shares of the company’s stock after selling 10,368 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.29% of PACCAR worth $149,892,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC bought a new stake in shares of PACCAR during the 3rd quarter worth about $33,668,000. International Assets Investment Management LLC boosted its stake in shares of PACCAR by 8,388.6% during the 4th quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock worth $36,729,000 after acquiring an additional 371,701 shares in the last quarter. Clarius Group LLC boosted its stake in shares of PACCAR by 52.7% during the 4th quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after acquiring an additional 349,727 shares in the last quarter. Invesco Ltd. boosted its stake in PACCAR by 9.9% during the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after purchasing an additional 328,347 shares during the period. Finally, Northern Trust Corp boosted its stake in PACCAR by 6.0% during the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after purchasing an additional 316,001 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. JPMorgan Chase & Co. decreased their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial reaffirmed a “hold” rating and issued a $121.00 price target (up previously from $117.00) on shares of PACCAR in a report on Thursday. Finally, Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.62.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,117 shares of company stock valued at $6,510,010. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR traded down $0.38 during mid-day trading on Thursday, reaching $105.96. The company had a trading volume of 1,238,957 shares, compared to its average volume of 2,416,590. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. The company’s 50-day moving average is $116.62 and its 200-day moving average is $102.36. The company has a market capitalization of $55.52 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.59 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the firm posted $2.25 EPS. PACCAR’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc will post 8.23 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s dividend payout ratio is presently 11.20%.

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.