Perpetual Ltd Has $1.02 Million Position in PACCAR Inc (NASDAQ:PCAR)

Perpetual Ltd reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,762 shares of the company’s stock after selling 2,083 shares during the period. Perpetual Ltd’s holdings in PACCAR were worth $1,015,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PCAR. AE Wealth Management LLC grew its stake in PACCAR by 33.7% during the second quarter. AE Wealth Management LLC now owns 3,887 shares of the company’s stock worth $400,000 after buying an additional 980 shares during the last quarter. Thrivent Financial for Lutherans grew its position in PACCAR by 34.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 151,067 shares of the company’s stock worth $15,550,000 after acquiring an additional 38,373 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in PACCAR by 81.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 104,736 shares of the company’s stock valued at $10,782,000 after purchasing an additional 46,955 shares in the last quarter. 1832 Asset Management L.P. raised its position in PACCAR by 72.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 39,809 shares of the company’s stock valued at $4,098,000 after purchasing an additional 16,777 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in PACCAR by 17.6% in the second quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company’s stock worth $72,000 after purchasing an additional 109 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $120.13.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $109.84 on Thursday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market cap of $57.59 billion, a PE ratio of 12.27, a P/E/G ratio of 2.78 and a beta of 0.93. The business’s 50-day moving average price is $110.84 and its two-hundred day moving average price is $104.19.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the business posted $2.34 EPS. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts forecast that PACCAR Inc will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is presently 14.75%.

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.