PACCAR Inc (NASDAQ:PCAR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,079,966 shares of the company’s stock after selling 81,200 shares during the period. Victory Capital Management Inc.’s holdings in PACCAR were worth $106,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors lifted its holdings in shares of PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of PACCAR during the second quarter worth $88,437,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of PACCAR by 3,636.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock valued at $67,696,000 after purchasing an additional 531,794 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in PACCAR in the 2nd quarter worth about $51,277,000. Finally, Squarepoint Ops LLC raised its holdings in PACCAR by 3,019.7% during the 2nd quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock worth $45,558,000 after buying an additional 428,378 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 0.3 %

PACCAR stock opened at $116.79 on Wednesday. PACCAR Inc has a one year low of $87.58 and a one year high of $125.50. The company’s fifty day moving average price is $102.34 and its two-hundred day moving average price is $102.61. 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 capitalization of $61.23 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.82 and a beta of 0.89.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PCAR shares. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI reduced their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Truist Financial upped their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Citigroup raised their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.82.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 in the last quarter. Insiders own 2.02% of the company’s stock.

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.