PACCAR Inc (NASDAQ:PCAR) Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its position in PACCAR Inc (NASDAQ:PCAR) by 86.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 733 shares of the company’s stock after selling 4,835 shares during the period. Westpac Banking Corp’s holdings in PACCAR were worth $76,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Everence Capital Management Inc. purchased a new position in shares of PACCAR in the fourth quarter worth about $1,984,000. Cullen Frost Bankers Inc. raised its holdings in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after acquiring an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after purchasing an additional 12,143 shares during the last quarter. Finally, Insight Wealth Strategies LLC grew its position in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In related news, VP Michael K. Walton sold 6,000 shares of PACCAR 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 trade represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last ninety days. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

PCAR stock opened at $90.88 on Friday. The business’s fifty day moving average price is $103.74 and its 200 day moving average price is $106.57. PACCAR Inc has a 12-month low of $89.67 and a 12-month high of $123.20. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $47.71 billion, a PE ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. 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 yield of 1.45%. PACCAR’s dividend payout ratio is 16.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PCAR. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Melius Research set a $120.00 price target on PACCAR in a report on Tuesday, March 18th. Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.54.

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.