PACCAR Inc. $PCAR Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. decreased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 14.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 45,322 shares of the company’s stock after selling 7,546 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in PACCAR were worth $5,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of PACCAR during the 2nd quarter worth $4,927,720,000. Wellington Management Group LLP lifted its stake in shares of PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after purchasing an additional 3,597,283 shares during the period. State Street Corp boosted its holdings in PACCAR by 0.4% during the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares in the last quarter. Geode Capital Management LLC grew its position in PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares during the period. Finally, Bank of America Corp DE acquired a new position in PACCAR during the second quarter worth about $1,130,496,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Truist Financial lifted their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Citigroup boosted their target price on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $131.70.

PACCAR Stock Up 1.9%

Shares of NASDAQ PCAR opened at $124.51 on Friday. The firm’s 50-day moving average is $127.70 and its two-hundred day moving average is $121.78. The company has a market capitalization of $65.54 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the company posted $1.37 EPS. The company’s revenue was up .5% on a year-over-year basis. Equities analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the transaction, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is currently owned by corporate insiders.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.