53,858 PACCAR Inc. $PCAR Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,062,871 shares of the company’s stock after selling 53,858 shares during the period. Fisher Asset Management LLC’s holdings in PACCAR were worth $555,954,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PCAR. Russell Investments Group Ltd. grew its position in shares of PACCAR by 4.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 288,153 shares of the company’s stock worth $31,657,000 after buying an additional 11,845 shares during the period. Eurizon Capital SGR S.p.A. grew its holdings in PACCAR by 7.7% in the third quarter. Eurizon Capital SGR S.p.A. now owns 354,312 shares of the company’s stock worth $38,912,000 after purchasing an additional 25,252 shares during the period. R Squared Ltd acquired a new stake in PACCAR in the third quarter worth $360,000. Maryland State Retirement & Pension System increased its stake in PACCAR by 12.4% in the third quarter. Maryland State Retirement & Pension System now owns 31,404 shares of the company’s stock valued at $3,448,000 after purchasing an additional 3,472 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in PACCAR by 2.5% in the third quarter. Ritholtz Wealth Management now owns 8,141 shares of the company’s stock valued at $894,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCAR shares. Truist Financial dropped their price objective on shares of PACCAR from $125.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, October 28th. Jefferies Financial Group raised their target price on PACCAR from $120.00 to $140.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. Wells Fargo & Company set a $122.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Thursday, October 8th. BNP Paribas Exane dropped their price target on PACCAR from $136.00 to $107.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada upgraded PACCAR from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $130.00 to $150.00 in a report on Thursday, September 10th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $131.96.

PACCAR Stock Performance

Shares of PCAR stock opened at $106.33 on Friday. The firm has a market capitalization of $55.98 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96. The firm has a fifty day simple moving average of $110.88 and a two-hundred day simple moving average of $119.41. The company has a current ratio of 3.22, a quick ratio of 2.98 and a debt-to-equity ratio of 0.50. PACCAR Inc. has a 12 month low of $93.86 and a 12 month high of $139.24.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 27th. The company reported $1.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.61. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $7.48 billion. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. Analysts forecast that PACCAR Inc. will post 5.84 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 11th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 10th. PACCAR’s dividend payout ratio is currently 26.67%.

About PACCAR

PACCAR Inc. is a global manufacturer of commercial trucks and a provider of related products and services. Its truck brands include Kenworth and Peterbilt in North America and DAF in Europe. The company also manufactures engines and supplies replacement parts and aftermarket support for its vehicles. PACCAR serves customers through manufacturing, sales and service operations across North America, Europe and other international markets. Its businesses also include PACCAR Financial, which provides financing and leasing solutions to truck customers and dealers.