Tocqueville Asset Management L.P. Lowers Holdings in PACCAR Inc (NASDAQ:PCAR)

Tocqueville Asset Management L.P. decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,260 shares of the company’s stock after selling 28,650 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.05% of PACCAR worth $27,384,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC bought a new position in PACCAR in the fourth quarter worth approximately $37,000. OFI Invest Asset Management purchased a new stake in PACCAR during the fourth quarter worth $43,000. Atala Financial Inc purchased a new stake in PACCAR during the fourth quarter worth $43,000. Finally, Regents Gate Capital LLP bought a new stake in PACCAR during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $101.17 on Tuesday. The stock has a market capitalization of $53.09 billion, a P/E ratio of 12.79, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s fifty day moving average price is $107.05 and its 200 day moving average price is $106.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted 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 net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent research reports. Bank of America raised 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 report on Tuesday, January 14th. Evercore ISI reduced their price objective 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. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $120.35.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction that occurred on 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 directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last quarter. 2.02% of the stock is currently owned by insiders.

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.