PACCAR Inc (NASDAQ:PCAR) Shares Sold by ING Groep NV

ING Groep NV lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 35.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,773 shares of the company’s stock after selling 26,935 shares during the period. ING Groep NV’s holdings in PACCAR were worth $5,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PCAR. Madrona Financial Services LLC grew its stake in shares of PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares during the last quarter. Global Financial Private Client LLC grew its stake in shares of PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. Omnia Family Wealth LLC grew its stake in shares of PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after purchasing an additional 98 shares during the last quarter. Insight Wealth Partners LLC grew its stake in shares of PACCAR by 1.4% in the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after purchasing an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI decreased their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.77.

Insider Transactions at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s 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 of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. 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 over the last three months. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

Shares of PCAR stock opened at $104.46 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a market cap of $54.77 billion, a PE ratio of 13.21, a P/E/G ratio of 2.79 and a beta of 0.92. The stock has a fifty day moving average price of $107.50 and a 200 day moving average price of $105.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67.

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

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

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.