PACCAR Inc (NASDAQ:PCAR) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd lowered its position in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 34.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,360 shares of the company’s stock after selling 36,084 shares during the quarter. Vinva Investment Management Ltd’s holdings in PACCAR were worth $6,590,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PCAR. NBC Securities Inc. bought a new position in shares of PACCAR in the 3rd quarter worth about $34,000. Jump Financial LLC bought a new position in PACCAR in the third quarter worth about $300,000. Atria Investments Inc acquired a new position in PACCAR in the third quarter valued at approximately $1,336,000. Kingsview Wealth Management LLC boosted its position in PACCAR by 29.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,123 shares of the company’s stock valued at $266,000 after purchasing an additional 708 shares during the period. Finally, Avantax Advisory Services Inc. bought a new position in shares of PACCAR during the third quarter worth about $1,100,000. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now owns 154,430 shares in the company, valued at $16,397,377.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock worth $4,779,241 over the last 90 days. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PCAR shares. The Goldman Sachs Group boosted their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial reiterated a “hold” rating and issued a $121.00 target price (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Royal Bank of Canada started coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective for the company. Finally, Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.62.

Read Our Latest Stock Report on PCAR

PACCAR Stock Down 1.0 %

Shares of PCAR stock traded down $1.11 during trading on Friday, hitting $107.99. 855,239 shares of the company were exchanged, compared to its average volume of 2,446,215. PACCAR Inc has a twelve month low of $75.79 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm has a market capitalization of $56.60 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.70 and a beta of 0.94. The business’s 50-day simple moving average is $111.66 and its 200 day simple moving average is $106.14.

PACCAR (NASDAQ:PCARGet Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 earnings per share. As a group, analysts forecast that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were issued a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s payout ratio is 12.45%.

About PACCAR

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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