International Assets Investment Management LLC Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

International Assets Investment Management LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 99.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,892 shares of the company’s stock after selling 286,142 shares during the period. International Assets Investment Management LLC’s holdings in PACCAR were worth $299,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sander Capital Advisors Inc. raised its holdings in PACCAR by 22.4% in the 4th quarter. Sander Capital Advisors Inc. now owns 618 shares of the company’s stock worth $64,000 after acquiring an additional 113 shares during the last quarter. Fortem Financial Group LLC raised its holdings in PACCAR by 9.3% in the 4th quarter. Fortem Financial Group LLC now owns 8,820 shares of the company’s stock worth $917,000 after acquiring an additional 747 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in PACCAR by 21.6% in the 4th 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. Everence Capital Management Inc. purchased a new position in PACCAR in the 4th quarter worth approximately $1,984,000. Finally, GAMMA Investing LLC raised its holdings in PACCAR by 15.0% in the 4th quarter. GAMMA Investing LLC now owns 8,127 shares of the company’s stock worth $845,000 after acquiring an additional 1,058 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PCAR shares. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup boosted their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Truist Financial boosted their target price on shares of PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $118.50.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Down 1.8 %

Shares of PCAR stock opened at $106.58 on Monday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a fifty day moving average price of $111.26 and a 200-day moving average price of $103.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a market cap of $55.88 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 EPS. As a group, equities analysts predict that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued 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 currently 14.75%.

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.