PACCAR Inc (NASDAQ:PCAR) Holdings Cut by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 11.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,974 shares of the company’s stock after selling 249 shares during the period. Hobbs Group Advisors LLC’s holdings in PACCAR were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP grew its position in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Norges Bank bought a new stake in PACCAR in the fourth quarter worth $526,922,000. JPMorgan Chase & Co. increased its position in PACCAR by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company’s stock worth $409,994,000 after buying an additional 426,311 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in PACCAR by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after buying an additional 61,457 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 in the last 90 days. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Down 1.3 %

Shares of PCAR stock opened at $96.91 on Friday. The stock has a market cap of $50.87 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a fifty day moving average price of $105.19 and a 200 day moving average price of $106.55. PACCAR Inc has a one year low of $90.04 and a one year high of $124.39.

PACCAR (NASDAQ:PCAR) last posted its earnings results 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 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. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PCAR shares. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Bank of America raised 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. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Citigroup cut 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. Finally, Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average 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.