Flputnam Investment Management Co. Sells 8,705 Shares of PACCAR Inc (NASDAQ:PCAR)

Flputnam Investment Management Co. reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 90,533 shares of the company’s stock after selling 8,705 shares during the period. Flputnam Investment Management Co.’s holdings in PACCAR were worth $9,417,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Madrona Financial Services LLC grew its stake in PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after buying an additional 91 shares in the last quarter. Global Financial Private Client LLC boosted its position in shares of PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after acquiring an additional 97 shares in the last quarter. Omnia Family Wealth LLC increased its stake in PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after acquiring an additional 98 shares during the last quarter. Insight Wealth Partners LLC raised its position in PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after purchasing an additional 104 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PCAR. Evercore ISI decreased their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Citigroup lowered their price objective 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, Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents 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 accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

Shares of PACCAR stock opened at $107.24 on Friday. The stock has a market cap of $56.28 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 2.77 and a beta of 0.92. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company’s fifty day moving average is $107.24 and its 200 day moving average is $105.64. 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 (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 16.69%.

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.