PACCAR Inc (NASDAQ:PCAR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,819 shares of the company’s stock after selling 1,745 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PACCAR were worth $6,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Golden State Wealth Management LLC acquired a new position in PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC acquired a new position in PACCAR during the fourth quarter worth about $37,000. Regents Gate Capital LLP purchased a new position in PACCAR during the fourth quarter worth about $44,000. Ashton Thomas Securities LLC purchased a new position in PACCAR during the third quarter worth about $52,000. Finally, AdvisorNet Financial Inc raised its stake in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

PACCAR stock opened at $105.02 on Tuesday. The company’s 50 day simple moving average is $107.25 and its 200-day simple moving average is $105.88. The company has a market capitalization of $55.11 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last announced 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 net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed 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 of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 16.69%.

Insider Activity at PACCAR

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 approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR 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 transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Citigroup reduced their target price 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. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Truist Financial lifted their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

About PACCAR

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.