PACCAR Inc (NASDAQ:PCAR) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 263,260 shares of the company’s stock after selling 28,650 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in PACCAR were worth $27,384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Everence Capital Management Inc. purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $1,984,000. Cullen Frost Bankers Inc. increased its stake in PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after acquiring an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC increased its stake in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC increased its stake in PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PCAR shares. Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup reduced their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.35.

PACCAR Price Performance

PACCAR stock opened at $101.17 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The firm has a market cap of $53.09 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company’s 50 day moving average is $107.05 and its two-hundred day moving average is $106.47.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Activity

In related news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred 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 transaction, the chief executive officer now owns 206,129 shares in the company, valued at $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 available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

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.