LGT Capital Partners LTD. Sells 65,380 Shares of PACCAR Inc (NASDAQ:PCAR)

LGT Capital Partners LTD. lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 509,585 shares of the company’s stock after selling 65,380 shares during the period. PACCAR accounts for about 2.0% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 18th largest position. LGT Capital Partners LTD. owned about 0.10% of PACCAR worth $53,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PCAR. Graypoint LLC increased its position in PACCAR by 3.0% in the third quarter. Graypoint LLC now owns 3,908 shares of the company’s stock worth $386,000 after purchasing an additional 115 shares during the last quarter. Principal Financial Group Inc. increased its position in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. AIA Group Ltd bought a new stake in PACCAR in the third quarter worth $2,113,000. SpiderRock Advisors LLC increased its position in PACCAR by 14.2% in the third quarter. SpiderRock Advisors LLC now owns 29,275 shares of the company’s stock worth $2,889,000 after purchasing an additional 3,638 shares during the last quarter. Finally, Assetmark Inc. increased its position in PACCAR by 1.9% in the third quarter. Assetmark Inc. now owns 338,568 shares of the company’s stock worth $33,410,000 after purchasing an additional 6,180 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction 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 approximately $612,129.15. This trade represents a 26.80 % 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 owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial lifted their price objective 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. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Finally, Evercore ISI dropped 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

PACCAR Stock Up 3.0 %

Shares of PCAR opened at $110.06 on Friday. The firm has a market capitalization of $57.76 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.77 and a beta of 0.91. 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. The firm has a fifty day moving average price of $107.27 and a 200-day moving average price of $106.08.

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

PACCAR Increases Dividend

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

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.