MML Investors Services LLC Has $4.38 Million Stake in PACCAR Inc (NASDAQ:PCAR)

MML Investors Services LLC lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,392 shares of the company’s stock after selling 2,198 shares during the quarter. MML Investors Services LLC’s holdings in PACCAR were worth $4,381,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after purchasing an additional 171,317 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after purchasing an additional 242,435 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR opened at $113.01 on Friday. The stock has a market cap of $59.25 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.82 and a beta of 0.91. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $110.95 and a 200 day simple moving average of $103.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter last year, the firm posted $2.34 earnings per share. PACCAR’s revenue was down 5.2% compared to the same quarter last year. On average, research analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $3.00 dividend. The ex-dividend date is Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is presently 13.41%.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 over the last quarter. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent research reports. Jefferies Financial Group lowered 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. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial lifted their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $118.25.

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.