Royal London Asset Management Ltd. Sells 7,326 Shares of PACCAR Inc. $PCAR

Royal London Asset Management Ltd. lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 892,692 shares of the company’s stock after selling 7,326 shares during the quarter. Royal London Asset Management Ltd.’s holdings in PACCAR were worth $107,230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCAR. Compass Financial Management LLC bought a new stake in shares of PACCAR during the 2nd quarter valued at $28,000. Paladin Partners LLC bought a new position in PACCAR in the 2nd quarter worth $27,000. Fiduciary Financial Advisors bought a new position in PACCAR in the 2nd quarter worth $28,000. Steph & Co. purchased a new stake in PACCAR in the 1st quarter worth $29,000. Finally, MCF Advisors LLC increased its stake in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCAR has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Truist Financial increased their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. JPMorgan Chase & Co. boosted their price target on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $119.00 price target on PACCAR in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $131.70.

PACCAR Stock Down 0.9%

Shares of PCAR stock opened at $125.34 on Friday. The stock has a market cap of $65.97 billion, a P/E ratio of 26.33, a PEG ratio of 1.00 and a beta of 0.97. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $127.35 and its two-hundred day simple moving average is $121.93.

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

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio is presently 29.41%.

Insider Transactions at PACCAR

In other news, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares of the company’s stock, valued at $184,307.50. This represents a 58.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is 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.