Russell Investments Group Ltd. Sells 42,990 Shares of PACCAR Inc. $PCAR

Russell Investments Group Ltd. lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 303,465 shares of the company’s stock after selling 42,990 shares during the period. Russell Investments Group Ltd.’s holdings in PACCAR were worth $28,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PCAR. Brighton Jones LLC grew its stake in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the last quarter. Cetera Investment Advisers lifted its holdings in PACCAR by 6.7% in the 1st quarter. Cetera Investment Advisers now owns 47,027 shares of the company’s stock worth $4,579,000 after buying an additional 2,952 shares during the period. LPL Financial LLC lifted its holdings in PACCAR by 32.5% in the 1st quarter. LPL Financial LLC now owns 281,420 shares of the company’s stock worth $27,402,000 after buying an additional 69,015 shares during the period. Federated Hermes Inc. grew its position in shares of PACCAR by 53.3% in the 1st quarter. Federated Hermes Inc. now owns 2,307 shares of the company’s stock worth $225,000 after buying an additional 802 shares during the last quarter. Finally, Bayforest Capital Ltd increased its stake in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after buying an additional 274 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.4%

Shares of NASDAQ PCAR opened at $105.42 on Friday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The firm has a 50-day moving average of $98.33 and a 200 day moving average of $97.39. The stock has a market cap of $55.37 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter last year, the company posted $1.85 EPS. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley set a $90.00 price target on PACCAR in a research note on Tuesday, October 21st. Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Wells Fargo & Company initiated coverage on PACCAR in a research report on Thursday, November 13th. They set a “positive” rating and a $106.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PACCAR has an average rating of “Hold” and an average target price of $106.54.

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.