Legal & General Group Plc Sells 291,391 Shares of PACCAR Inc. $PCAR

Legal & General Group Plc lessened its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,944,432 shares of the company’s stock after selling 291,391 shares during the period. Legal & General Group Plc’s holdings in PACCAR were worth $322,445,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PCAR. Brighton Jones LLC boosted its stake in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares in the last quarter. Focus Partners Wealth boosted its stake in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares during the period. Treasurer of the State of North Carolina boosted its stake in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after purchasing an additional 5,327 shares during the period. Ieq Capital LLC boosted its stake in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after purchasing an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in PACCAR during the 2nd quarter valued at approximately $81,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PCAR shares. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Morgan Stanley set a $109.00 target price on PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Citigroup restated a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Truist Financial increased their target price on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, BNP Paribas Exane started coverage on PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $122.00.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $112.01 on Wednesday. The firm has a market capitalization of $58.95 billion, a PE ratio of 23.83, a PEG ratio of 1.02 and a beta of 1.02. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 1-year low of $90.05 and a 1-year high of $131.88. The business’s 50 day moving average is $117.55 and its 200-day moving average is $116.05.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.PACCAR’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 earnings per share. Sell-side analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.35 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.