PACCAR Inc. $PCAR Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 40.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,735 shares of the company’s stock after selling 19,451 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in PACCAR were worth $3,147,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. Brighton Jones LLC raised its stake in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth raised its stake in PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in PACCAR by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after purchasing an additional 5,327 shares during the last quarter. Ieq Capital LLC raised its stake in PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after purchasing an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in PACCAR in the 2nd quarter valued at $81,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $109.35 on Tuesday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $117.62 and a two-hundred day moving average of $115.97. The stock has a market cap of $57.55 billion, a P/E ratio of 23.27, a PEG ratio of 1.02 and a beta of 1.02. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.46 EPS. On average, research analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Truist Financial increased their price objective on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, Citigroup reissued a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.00.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.