PACCAR Inc (NASDAQ:PCAR) Shares Sold by Assetmark Inc.

Assetmark Inc. lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 336,615 shares of the company’s stock after selling 1,953 shares during the period. Assetmark Inc.’s holdings in PACCAR were worth $35,015,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. Van ECK Associates Corp increased its holdings in PACCAR by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 94,494 shares of the company’s stock valued at $9,808,000 after purchasing an additional 9,370 shares during the last quarter. Amalgamated Bank increased its holdings in PACCAR by 6.8% in the 3rd quarter. Amalgamated Bank now owns 112,447 shares of the company’s stock valued at $11,096,000 after purchasing an additional 7,133 shares during the last quarter. Harvest Portfolios Group Inc. increased its holdings in PACCAR by 42.1% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,816 shares of the company’s stock valued at $1,067,000 after purchasing an additional 3,204 shares during the last quarter. Graypoint LLC increased its holdings in PACCAR by 3.0% in the 3rd quarter. Graypoint LLC now owns 3,908 shares of the company’s stock valued at $386,000 after purchasing an additional 115 shares during the last quarter. Finally, Malaga Cove Capital LLC increased its holdings in PACCAR by 55.8% in the 3rd quarter. Malaga Cove Capital LLC now owns 4,816 shares of the company’s stock valued at $475,000 after purchasing an additional 1,724 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents 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 ninety days. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCAR. Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Truist Financial boosted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Price Performance

PACCAR stock opened at $102.97 on Thursday. The stock has a market cap of $54.04 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a fifty day simple moving average of $107.13 and a 200-day simple moving average of $105.91. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data 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 return on equity of 23.53% and a net margin of 12.36%. Equities analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

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

PACCAR Company 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.