LGT Capital Partners LTD. Decreases Stock Position in PACCAR Inc (NASDAQ:PCAR)

LGT Capital Partners LTD. trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 35.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,280 shares of the company’s stock after selling 232,245 shares during the quarter. PACCAR makes up 1.2% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 26th largest position. LGT Capital Partners LTD. owned approximately 0.08% of PACCAR worth $41,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PCAR. Vanguard Group Inc. increased its stake in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after buying an additional 698,784 shares during the period. State Street Corp boosted its holdings in PACCAR by 49.0% in the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after acquiring an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PACCAR by 53.3% during the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after purchasing an additional 4,082,677 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PACCAR by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after buying an additional 23,865 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.5 %

Shares of PCAR opened at $123.89 on Friday. PACCAR Inc has a 12-month low of $67.48 and a 12-month high of $125.50. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $64.92 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The business’s 50 day moving average is $109.94 and its 200 day moving average is $96.87.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The firm 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%. PACCAR’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. Research analysts expect that PACCAR Inc will post 8.13 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price for the company. Truist Financial assumed coverage on shares of PACCAR in a research note on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. TD Cowen boosted their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Finally, Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $109.39.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 in the last ninety days. Corporate 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.