Oppenheimer & Co. Inc. Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Oppenheimer & Co. Inc. cut its holdings in PACCAR Inc (NASDAQ:PCARFree Report) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,263 shares of the company’s stock after selling 416 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in PACCAR were worth $2,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PCAR. Norges Bank purchased a new stake in shares of PACCAR during the fourth quarter worth about $448,288,000. TD Asset Management Inc lifted its position in shares of PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after acquiring an additional 1,095,894 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of 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 acquiring an additional 371,701 shares in the last quarter. Clarius Group LLC increased its position in shares of PACCAR by 52.7% during the fourth quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after purchasing an additional 349,727 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in PACCAR by 40.1% in the 4th 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. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lowered 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. Truist Financial reiterated a “hold” rating and issued a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. 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. Finally, Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

Get Our Latest Analysis on PACCAR

Insider Transactions at PACCAR

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

PACCAR Trading Down 1.3 %

PCAR opened at $107.67 on Friday. The business’s 50 day moving average price is $111.34 and its 200 day moving average price is $106.25. 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 stock has a market capitalization of $56.44 billion, a PE ratio of 11.17, a P/E/G ratio of 1.69 and a beta of 0.94. PACCAR Inc has a one year low of $75.79 and a one year high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (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 during the quarter, compared to the consensus estimate of $8.25 billion. During the same period last year, the company earned $2.25 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

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

PACCAR Company Profile

(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

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCARFree Report).

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.