Principal Financial Group Inc. Trims Stock Position in PACCAR Inc (NASDAQ:PCAR)

Principal Financial Group Inc. lessened its position in shares of PACCAR Inc (NASDAQ:PCAR) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,280,271 shares of the company’s stock after selling 117,922 shares during the quarter. Principal Financial Group Inc.’s holdings in PACCAR were worth $341,214,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the 4th quarter valued at approximately $37,000. Regents Gate Capital LLP purchased a new stake in shares of PACCAR during the 4th quarter valued at approximately $44,000. Ashton Thomas Securities LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at approximately $52,000. AdvisorNet Financial Inc raised its position in shares of PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in PACCAR in the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial boosted their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

PACCAR Stock Up 0.7 %

Shares of NASDAQ PCAR opened at $105.96 on Monday. The stock has a market capitalization of $55.55 billion, a PE ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The firm has a fifty day moving average of $108.32 and a 200-day moving average of $104.85. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its 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 return on equity of 23.53% and a net margin of 12.36%. On average, analysts anticipate that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 15.17%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is currently owned by company insiders.

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.