Vontobel Holding Ltd. Lowers Holdings in PACCAR Inc (NASDAQ:PCAR)

Vontobel Holding Ltd. trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 49.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,990 shares of the company’s stock after selling 106,538 shares during the quarter. Vontobel Holding Ltd.’s holdings in PACCAR were worth $10,741,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Prudential PLC purchased a new stake in shares of PACCAR during the 1st quarter worth about $763,000. Vanguard Group Inc. boosted its stake in shares of PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after acquiring an additional 698,784 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of PACCAR by 66.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock worth $6,046,000 after acquiring an additional 27,300 shares in the last quarter. Covestor Ltd boosted its stake in shares of PACCAR by 73.6% during the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after acquiring an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of PACCAR by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after acquiring an additional 792 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.4 %

Shares of NASDAQ PCAR opened at $117.54 on Wednesday. The company has a 50 day simple moving average of $115.48 and a 200-day simple moving average of $100.46. The company has a market capitalization of $61.59 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 EPS. On average, equities research analysts predict that PACCAR Inc will post 8.16 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued 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 dividend yield of 0.92%. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 in the last 90 days. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PCAR. Truist Financial began coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. Morgan Stanley started coverage on shares of PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. Evercore ISI raised their price target on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Royal Bank of Canada started coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $110.82.

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.