PACCAR Inc (NASDAQ:PCAR) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 39,651 shares of the company’s stock after selling 446 shares during the period. Gulf International Bank UK Ltd’s holdings in PACCAR were worth $4,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of 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 buying an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after acquiring an additional 1,164,692 shares during the period. Erste Asset Management GmbH purchased a new position in PACCAR in the third quarter worth $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after acquiring an additional 576,532 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.5 %

NASDAQ:PCAR opened at $105.50 on Friday. The stock has a market cap of $55.37 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business’s 50-day simple moving average is $107.20 and its 200 day simple moving average is $105.53. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its 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%. As a group, sell-side analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PCAR. Citigroup lowered their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Finally, Evercore ISI dropped their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.77.

PACCAR 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.