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

Westpac Banking Corp trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 86.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 733 shares of the company’s stock after selling 4,835 shares during the quarter. Westpac Banking Corp’s holdings in PACCAR were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR during the 4th quarter worth approximately $37,000. Atala Financial Inc purchased a new stake in PACCAR during the 4th quarter worth approximately $43,000. Finally, Regents Gate Capital LLP acquired a new position in PACCAR during the 4th quarter valued at approximately $44,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PCAR shares. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and dropped their target price for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.54.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on 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 sale, the executive vice president now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company’s stock, valued at $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 worth $18,261,908 over the last three months. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $90.88 on Friday. The company has a market capitalization of $47.71 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company’s fifty day moving average price is $103.74 and its 200 day moving average price is $106.57. PACCAR Inc has a 1 year low of $89.67 and a 1 year high of $123.20.

PACCAR (NASDAQ:PCAR) last posted its earnings results 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%. On average, research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.45%. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 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.