CIBC Private Wealth Group LLC Sells 468 Shares of PACCAR Inc (NASDAQ:PCAR)

CIBC Private Wealth Group LLC lessened its position in PACCAR Inc (NASDAQ:PCAR) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,414 shares of the company’s stock after selling 468 shares during the period. CIBC Private Wealth Group LLC’s holdings in PACCAR were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at approximately $37,000. OFI Invest Asset Management bought a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. Atala Financial Inc acquired a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. Finally, Regents Gate Capital LLP bought a new stake in PACCAR in the 4th quarter valued at $44,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PCAR. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.54.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $90.88 on Monday. The business has a fifty day moving average price of $103.74 and a two-hundred day moving average price of $106.71. The stock has a market capitalization of $47.71 billion, a PE ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a fifty-two week low of $89.67 and a fifty-two week high of $123.20.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is 16.69%.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % 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, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now 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. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

About PACCAR

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.