Twin Capital Management Inc. Decreases Stake in PACCAR Inc (NASDAQ:PCAR)

Twin Capital Management Inc. cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 23,069 shares of the company’s stock after selling 405 shares during the quarter. Twin Capital Management Inc.’s holdings in PACCAR were worth $2,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in shares of PACCAR by 125.5% during the fourth quarter. Federated Hermes Inc. now owns 8,643 shares of the company’s stock valued at $844,000 after buying an additional 4,810 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of PACCAR by 23.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 70,988 shares of the company’s stock valued at $7,124,000 after purchasing an additional 13,258 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of PACCAR by 5.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 73,204 shares of the company’s stock valued at $7,148,000 after purchasing an additional 3,691 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PACCAR by 3.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 208,488 shares of the company’s stock worth $20,359,000 after acquiring an additional 6,558 shares during the last quarter. Finally, SVB Wealth LLC raised its stake in PACCAR by 31.1% in the 4th quarter. SVB Wealth LLC now owns 4,138 shares of the company’s stock worth $404,000 after acquiring an additional 981 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale 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 company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction 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. In the last 90 days, insiders sold 153,496 shares of company stock valued at $15,834,812. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCAR. JPMorgan Chase & Co. lifted their price objective on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI boosted their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Truist Financial began coverage on PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Stock Down 1.9 %

Shares of NASDAQ PCAR opened at $113.76 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $59.61 billion, a PE ratio of 12.97, a P/E/G ratio of 1.74 and a beta of 0.92. The firm has a fifty day moving average of $115.86 and a 200-day moving average of $100.66. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the business posted $1.76 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s payout ratio is currently 12.31%.

PACCAR Company 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.