Thrivent Financial for Lutherans Sells 30,671 Shares of PACCAR Inc (NASDAQ:PCAR)

Thrivent Financial for Lutherans lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 23.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 98,155 shares of the company’s stock after selling 30,671 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PACCAR were worth $10,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the period. Quest Partners LLC grew its position in PACCAR by 45,433.3% in the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock worth $270,000 after purchasing an additional 2,726 shares during the period. Commerce Bank grew its position in PACCAR by 3.7% in the 3rd quarter. Commerce Bank now owns 27,202 shares of the company’s stock worth $2,684,000 after purchasing an additional 981 shares during the period. Charles Schwab Investment Management Inc. grew its position in PACCAR by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company’s stock worth $301,260,000 after purchasing an additional 47,855 shares during the period. Finally, Meridian Wealth Management LLC bought a new stake in PACCAR in the 3rd quarter worth approximately $334,000. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last three months. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup cut their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.23.

PACCAR Stock Down 1.2 %

Shares of PCAR stock opened at $97.11 on Friday. The stock has a market cap of $50.96 billion, a P/E ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $106.29 and its two-hundred day simple moving average is $106.48.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. PACCAR’s payout ratio is 16.69%.

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.