King Luther Capital Management Corp Sells 340 Shares of PACCAR Inc (NASDAQ:PCAR)

King Luther Capital Management Corp reduced its position in PACCAR Inc (NASDAQ:PCAR) by 11.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,752 shares of the company’s stock after selling 340 shares during the period. King Luther Capital Management Corp’s holdings in PACCAR were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. Norges Bank purchased a new stake in PACCAR in the fourth quarter worth approximately $448,288,000. International Assets Investment Management LLC lifted its position in PACCAR by 8,388.6% in the fourth quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock valued at $36,729,000 after purchasing an additional 371,701 shares during the last quarter. Clarius Group LLC lifted its position in PACCAR by 52.7% in the fourth quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock valued at $98,896,000 after purchasing an additional 349,727 shares during the last quarter. Panagora Asset Management Inc. lifted its position in PACCAR by 40.1% in the fourth quarter. Panagora Asset Management Inc. now owns 1,196,277 shares of the company’s stock valued at $116,816,000 after purchasing an additional 342,212 shares during the last quarter. Finally, Invesco Ltd. lifted its position in PACCAR by 9.9% in the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after purchasing an additional 328,347 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

PCAR opened at $109.43 on Friday. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The company has a market cap of $57.36 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96. The stock has a fifty day simple moving average of $114.45 and a two-hundred day simple moving average of $105.10. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts predict that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Tuesday, May 14th. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Transactions at PACCAR

In other news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the 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 directly owns 154,430 shares in the company, valued at $16,397,377.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent research reports. Truist Financial reiterated a “hold” rating and issued a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Evercore ISI upped their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Seven 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $112.62.

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.