Elo Mutual Pension Insurance Co Cuts Position in PACCAR Inc (NASDAQ:PCAR)

Elo Mutual Pension Insurance Co reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 21.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,322 shares of the company’s stock after selling 9,946 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PACCAR were worth $3,778,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new stake in PACCAR during the 4th quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth approximately $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the fourth quarter worth approximately $43,000. Atala Financial Inc acquired a new position in PACCAR in the 4th quarter valued at $43,000. Finally, Regents Gate Capital LLP acquired a new stake in PACCAR during the 4th quarter worth $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Down 1.3 %

Shares of NASDAQ PCAR opened at $96.91 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $50.87 billion, a PE ratio of 12.25, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $124.39. The stock has a fifty day simple moving average of $105.19 and a 200-day simple moving average of $106.55.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (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, equities analysts forecast 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. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. 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. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and dropped their price target for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Truist Financial lifted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.38.

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.