Desjardins Global Asset Management Inc. Cuts Holdings in PACCAR Inc (NASDAQ:PCAR)

Desjardins Global Asset Management Inc. reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 47.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,430 shares of the company’s stock after selling 18,135 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in PACCAR were worth $1,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in PACCAR during the 3rd quarter worth $26,000. AdvisorNet Financial Inc boosted 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 worth $27,000 after purchasing an additional 181 shares during the last quarter. ST Germain D J Co. Inc. grew its position in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of PACCAR in the third quarter valued at approximately $30,000. Finally, Achmea Investment Management B.V. purchased a new position in PACCAR during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target for the company. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Truist Financial began coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $117.54 on Wednesday. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The company has a 50-day moving average price of $115.48 and a 200 day moving average price of $100.46. The company has a market cap of $61.59 billion, a P/E ratio of 13.40, a PEG ratio of 1.79 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the company earned $1.76 earnings per share. PACCAR’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts predict that PACCAR Inc will post 8.16 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Buying and Selling at PACCAR

In related news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock valued at $15,834,812 over the last ninety days. 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.