PACCAR Inc (NASDAQ:PCAR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 549,792 shares of the company’s stock after selling 58,422 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of PACCAR worth $57,189,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Norges Bank acquired a new stake in PACCAR during the fourth quarter valued at approximately $526,922,000. Wellington Management Group LLP grew its holdings in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC bought a new position in shares of PACCAR during the fourth quarter valued at approximately $254,651,000. JPMorgan Chase & Co. grew its holdings in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $93.93 on Thursday. The stock has a fifty day moving average price of $101.69 and a two-hundred day moving average price of $106.28. 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 firm has a market cap of $49.31 billion, a P/E ratio of 11.87, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $85.10 and a 1 year high of $121.75.

PACCAR (NASDAQ:PCAR) last issued its quarterly 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%. Research analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. 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 1.41%. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $108.00 to $78.00 in a report on Monday. Finally, Truist Financial decreased their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $113.46.

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.