Royal London Asset Management Ltd. Sells 7,326 Shares of PACCAR Inc. $PCAR

Royal London Asset Management Ltd. trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 892,692 shares of the company’s stock after selling 7,326 shares during the quarter. Royal London Asset Management Ltd. owned about 0.17% of PACCAR worth $107,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Paladin Partners LLC purchased a new position in shares of PACCAR during the second quarter worth about $27,000. MCF Advisors LLC lifted its position in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the last quarter. Fiduciary Financial Advisors purchased a new position in PACCAR in the 2nd quarter worth approximately $28,000. Compass Financial Management LLC bought a new position in shares of PACCAR in the 2nd quarter worth $28,000. Finally, Steph & Co. purchased a new stake in shares of PACCAR during the 1st quarter valued at $29,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research reports. Truist Financial upped their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $119.00 price objective on PACCAR in a report on Wednesday, July 29th. Wells Fargo & Company increased their price objective on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $131.70.

PACCAR Stock Performance

PACCAR stock opened at $125.34 on Friday. The firm has a fifty day simple moving average of $127.35 and a two-hundred day simple moving average of $121.93. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The company has a market capitalization of $65.97 billion, a PE ratio of 26.33, a P/E/G ratio of 1.00 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. Research analysts expect that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio is currently 29.41%.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the transaction, the chief financial officer directly owned 1,391 shares of the company’s stock, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by insiders.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.