PACCAR Inc (NASDAQ:PCAR) Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 236,547 shares of the company’s stock after selling 18,827 shares during the quarter. Todd Asset Management LLC’s holdings in PACCAR were worth $23,099,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PCAR. Raymond James & Associates grew its holdings in PACCAR by 29.1% during the 3rd quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock valued at $6,769,000 after buying an additional 17,953 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of PACCAR by 15.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 90,658 shares of the company’s stock valued at $7,708,000 after acquiring an additional 12,451 shares during the last quarter. Independent Advisor Alliance increased its position in PACCAR by 673.2% during the 3rd quarter. Independent Advisor Alliance now owns 45,827 shares of the company’s stock worth $3,896,000 after purchasing an additional 39,900 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in PACCAR by 1.1% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 251,619 shares of the company’s stock valued at $21,393,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Railway Pension Investments Ltd boosted its stake in shares of PACCAR by 47.6% during the 3rd quarter. Railway Pension Investments Ltd now owns 103,300 shares of the company’s stock worth $8,783,000 after purchasing an additional 33,300 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PCAR. Royal Bank of Canada started coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective for the company. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. TD Cowen increased their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Truist Financial reissued a “hold” rating and issued a $121.00 target price (up from $117.00) on shares of PACCAR in a research report on Thursday. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.62.

PACCAR Price Performance

PCAR traded down $1.67 during trading on Friday, reaching $104.79. The stock had a trading volume of 3,899,161 shares, compared to its average volume of 2,813,976. The stock has a 50 day moving average of $116.42 and a two-hundred day moving average of $102.53. The company has a quick ratio of 2.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $54.91 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $8.25 billion. During the same period last year, the company posted $2.25 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is 11.20%.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated 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 owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

About PACCAR

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.