Metis Global Partners LLC Sells 2,078 Shares of PACCAR Inc (NASDAQ:PCAR)

Metis Global Partners LLC cut its stake in PACCAR Inc (NASDAQ:PCAR) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,915 shares of the company’s stock after selling 2,078 shares during the quarter. Metis Global Partners LLC’s holdings in PACCAR were worth $1,652,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Raymond James Financial Services Advisors Inc. boosted its holdings in PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after purchasing an additional 16,360 shares during the period. abrdn plc raised its holdings in shares of PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after acquiring an additional 89,359 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of PACCAR during the 3rd quarter valued at about $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of PACCAR by 42.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after purchasing an additional 166,628 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after purchasing an additional 16,390 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $106.61 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The firm has a 50-day moving average of $116.18 and a 200 day moving average of $103.12. The company has a market cap of $55.88 billion, a P/E ratio of 11.06, a PEG ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the previous year, the company posted $2.25 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is 11.20%.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,920 shares of company stock worth $4,650,324. 2.02% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Evercore ISI increased their price target 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. Royal Bank of Canada initiated coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. TD Cowen increased their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. dropped their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $112.62.

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.