Guggenheim Capital LLC Sells 39,649 Shares of PACCAR Inc (NASDAQ:PCAR)

Guggenheim Capital LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 23.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,083 shares of the company’s stock after selling 39,649 shares during the period. Guggenheim Capital LLC’s holdings in PACCAR were worth $13,635,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC grew its holdings in PACCAR by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA increased its position in PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock worth $1,119,997,000 after buying an additional 572,231 shares during the last quarter. FMR LLC raised its stake in PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after buying an additional 167,165 shares during the period. Finally, Norges Bank acquired a new stake in shares of PACCAR in the fourth quarter valued at approximately $526,922,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Evercore ISI lowered their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Citigroup dropped their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. Finally, Truist Financial dropped their price objective on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.13.

PACCAR Price Performance

Shares of PCAR opened at $88.82 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The stock has a market cap of $46.62 billion, a PE ratio of 11.23, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12-month low of $85.10 and a 12-month high of $118.81. The business has a 50-day simple moving average of $100.20 and a two-hundred day simple moving average of $106.03.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity

In related news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

About PACCAR

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.