Securian Asset Management Inc. Sells 815 Shares of PACCAR Inc (NASDAQ:PCAR)

Securian Asset Management Inc. reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 2.8% during the 4th quarter, HoldingsChannel reports. The fund owned 28,178 shares of the company’s stock after selling 815 shares during the quarter. Securian Asset Management Inc.’s holdings in PACCAR were worth $2,931,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new stake in PACCAR in the 4th quarter valued at $1,984,000. Cullen Frost Bankers Inc. lifted its position in PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after buying an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC lifted its position in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. lifted its position in PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after buying an additional 5,433 shares in the last quarter. Finally, Insight Wealth Strategies LLC lifted its position in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PCAR. Citigroup cut 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. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America raised 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 report on Tuesday, January 14th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Finally, Truist Financial upped their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.77.

PACCAR Stock Down 2.3 %

Shares of PCAR opened at $102.33 on Thursday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The firm has a market cap of $53.70 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The firm’s 50-day simple moving average is $107.39 and its 200 day simple moving average is $106.29. 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 (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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%. On average, analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current 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 paid a $3.00 dividend. The ex-dividend date of this dividend 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.