Corient Private Wealth LLC Sells 98,837 Shares of PACCAR Inc (NASDAQ:PCAR)

Corient Private Wealth LLC trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,282,014 shares of the company’s stock after selling 98,837 shares during the period. Corient Private Wealth LLC owned 0.44% of PACCAR worth $237,376,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new stake in PACCAR in the fourth quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. grew its position in PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after acquiring an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC grew its position in PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares in the last quarter. Insight Wealth Strategies LLC grew its position in PACCAR by 21.6% in the fourth 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 in the last quarter. Finally, Fisher Asset Management LLC grew its position in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % 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 corporate insiders.

PACCAR Trading Up 0.8 %

Shares of PCAR stock opened at $99.21 on Friday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a market cap of $52.07 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a fifty day moving average of $107.17 and a 200-day moving average of $106.35.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (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%. On average, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is currently 16.69%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PCAR shares. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus target price of $120.35.

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.