Guggenheim Capital LLC Has $13.64 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Guggenheim Capital LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 23.2% during the fourth quarter, Holdings Channel reports. The fund owned 131,083 shares of the company’s stock after selling 39,649 shares during the quarter. Guggenheim Capital LLC’s holdings in PACCAR were worth $13,635,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PCAR. Principal Financial Group Inc. raised its holdings in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the period. Morse Asset Management Inc bought a new stake in PACCAR in the 3rd quarter valued at about $370,000. McIlrath & Eck LLC raised its stake in PACCAR by 16.0% during the 3rd quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock worth $2,769,000 after buying an additional 3,878 shares during the period. Sanctuary Advisors LLC boosted its holdings in PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in PACCAR in the third quarter worth approximately $419,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $88.82 on Wednesday. PACCAR Inc has a 52 week low of $85.10 and a 52 week high of $118.81. The company’s 50 day moving average price is $100.20 and its two-hundred day moving average price is $106.03. The stock has a market cap of $46.62 billion, a P/E ratio of 11.23, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.49%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PCAR. JPMorgan Chase & Co. lowered their target price on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Truist Financial lowered their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.13.

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.