PACCAR Inc (NASDAQ:PCAR) Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 44.0% during the 4th quarter, HoldingsChannel reports. The firm owned 175,886 shares of the company’s stock after selling 138,408 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PACCAR were worth $17,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of PACCAR during the 3rd quarter valued at $26,000. AdvisorNet Financial Inc grew its holdings in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Arlington Trust Co LLC purchased a new position in shares of PACCAR during the 3rd quarter valued at $30,000. Finally, Achmea Investment Management B.V. bought a new stake in PACCAR in the first quarter worth $33,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.6 %

Shares of PCAR opened at $118.16 on Monday. The company has a 50-day simple moving average of $114.94 and a 200-day simple moving average of $100.01. The firm has a market capitalization of $61.92 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. On average, equities research analysts expect that PACCAR Inc will post 8.16 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PCAR shares. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Evercore ISI upped their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $116.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Finally, TD Cowen boosted their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PACCAR news, SVP Kevin D. Baney sold 7,203 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total transaction of $742,125.09. Following the sale, the senior vice president now directly owns 6,621 shares of the company’s stock, valued at $682,161.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

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.