Covestor Ltd Sells 160 Shares of PACCAR Inc (NASDAQ:PCAR)

Covestor Ltd trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,444 shares of the company’s stock after selling 160 shares during the quarter. Covestor Ltd’s holdings in PACCAR were worth $150,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its position 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 purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at about $37,000. OFI Invest Asset Management purchased a new position in shares of PACCAR in the 4th quarter valued at approximately $43,000. Finally, Atala Financial Inc acquired a new stake in PACCAR in the 4th quarter worth approximately $43,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 1.9 %

Shares of PCAR opened at $90.47 on Friday. The firm has a market cap of $47.49 billion, a P/E ratio of 11.44, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12 month low of $85.10 and a 12 month high of $121.75. The stock’s 50 day moving average is $100.92 and its two-hundred day moving average is $106.15. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last released 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%. Analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. 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 1.46%. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Evercore ISI lowered their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Truist Financial reduced their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Finally, Citigroup reduced their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus target price of $112.13.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

PACCAR Company 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.