LGT Capital Partners LTD. Decreases Stock Position in PACCAR Inc (NASDAQ:PCAR)

LGT Capital Partners LTD. trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 35.4% during the fourth quarter, Holdings Channel reports. The fund owned 424,280 shares of the company’s stock after selling 232,245 shares during the quarter. PACCAR accounts for 1.2% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 26th largest holding. LGT Capital Partners LTD.’s holdings in PACCAR were worth $41,431,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of PACCAR by 49.0% during the 1st quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after buying an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PACCAR by 53.3% in the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after acquiring an additional 4,082,677 shares during the last quarter. Norges Bank bought a new position in PACCAR during the fourth quarter worth $323,885,000. Wellington Management Group LLP increased its stake in PACCAR by 249.2% during the first quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company’s stock valued at $338,663,000 after purchasing an additional 2,744,040 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of PACCAR by 2,578.2% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company’s stock valued at $167,846,000 after buying an additional 2,207,357 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock valued at $15,834,812 in the last ninety days. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 0.5 %

NASDAQ:PCAR opened at $123.89 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $109.94 and a two-hundred day moving average price of $96.87. PACCAR Inc has a 1 year low of $67.48 and a 1 year high of $125.50. The stock has a market cap of $64.92 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.94 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter last year, the firm earned $1.76 EPS. PACCAR’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that PACCAR Inc will post 8.13 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. PACCAR’s payout ratio is 12.31%.

Analysts Set New Price Targets

Several brokerages recently commented on PCAR. Truist Financial began coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $84.00 to $97.00 in a report on Friday, January 19th. JPMorgan Chase & Co. increased their price objective on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, TD Cowen upped their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.39.

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.