PACCAR Inc (NASDAQ:PCAR) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,620 shares of the company’s stock after selling 242 shares during the quarter. KCM Investment Advisors LLC’s holdings in PACCAR were worth $273,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of PACCAR in the fourth quarter worth about $526,922,000. Wellington Management Group LLP increased its holdings in PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after buying an additional 3,364,650 shares during the period. Madison Investment Advisors LLC purchased a new position in PACCAR during the 4th quarter worth approximately $254,651,000. JPMorgan Chase & Co. lifted its stake in PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCAR. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.54.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $90.88 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1 year low of $86.74 and a 1 year high of $123.20. The firm has a market capitalization of $47.71 billion, a PE ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. The business’s 50 day moving average price is $103.74 and its 200-day moving average price is $106.71.

PACCAR (NASDAQ:PCAR) last released its 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 return on equity of 23.53% and a net margin of 12.36%. As a group, equities research analysts expect 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 issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Transactions at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of PACCAR 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 in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last quarter. Company insiders own 2.02% of the company’s stock.

About PACCAR

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.