Federated Hermes Inc. Has $157,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Federated Hermes Inc. lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 91.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,505 shares of the company’s stock after selling 16,619 shares during the period. Federated Hermes Inc.’s holdings in PACCAR were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ilmarinen Mutual Pension Insurance Co boosted its position in PACCAR by 76.2% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 92,500 shares of the company’s stock worth $9,622,000 after acquiring an additional 40,000 shares during the last quarter. Aviva PLC grew its position in shares of PACCAR by 65.7% during the 4th quarter. Aviva PLC now owns 315,286 shares of the company’s stock worth $32,796,000 after purchasing an additional 124,996 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of PACCAR in the fourth quarter worth $15,958,000. World Investment Advisors increased its stake in PACCAR by 5.8% in the fourth quarter. World Investment Advisors now owns 4,490 shares of the company’s stock valued at $467,000 after acquiring an additional 246 shares during the last quarter. Finally, Nicolet Advisory Services LLC raised its stake in PACCAR by 3.7% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company’s stock worth $373,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PCAR shares. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their price objective on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research note on Wednesday. Finally, UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $108.59.

PACCAR Stock Up 1.6 %

PACCAR stock opened at $88.17 on Friday. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $99.09 and a 200-day moving average price of $105.76. The company has a market capitalization of $46.28 billion, a P/E ratio of 11.15, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last three months. Company insiders own 2.02% of the company’s stock.

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.