Banco Bilbao Vizcaya Argentaria S.A. Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

Banco Bilbao Vizcaya Argentaria S.A. trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 32.8% in the 4th quarter, HoldingsChannel reports. The firm owned 12,127 shares of the company’s stock after selling 5,909 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in PACCAR were worth $1,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PCAR. Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter worth about $526,922,000. Wellington Management Group LLP boosted its stake in PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in PACCAR in the fourth quarter worth about $254,651,000. JPMorgan Chase & Co. increased its stake in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR stock opened at $91.89 on Monday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $97.55 and its two-hundred day simple moving average is $105.37. PACCAR Inc has a twelve month low of $85.05 and a twelve month high of $118.81. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is 16.69%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last quarter. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PCAR shares. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and cut their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Truist Financial cut their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $108.59.

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.