Tocqueville Asset Management L.P. Has $17.60 Million Stake in PACCAR Inc. (NASDAQ:PCAR)

Tocqueville Asset Management L.P. decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 31.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 180,732 shares of the company’s stock after selling 82,528 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in PACCAR were worth $17,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Farmers & Merchants Investments Inc. grew its position in shares of PACCAR by 33.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company’s stock worth $45,000 after buying an additional 116 shares during the period. RMR Wealth Builders grew its position in shares of PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company’s stock worth $848,000 after buying an additional 122 shares during the period. Applied Capital LLC FL grew its position in shares of PACCAR by 0.5% during the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock worth $2,455,000 after buying an additional 124 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company’s stock worth $4,390,000 after buying an additional 130 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in shares of PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock worth $228,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of a number of recent research reports. UBS Group upgraded PACCAR from a “sell” rating to a “neutral” rating and increased their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Citigroup increased their target price on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Truist Financial cut their target price on PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday, July 23rd. Vertical Research upgraded PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada cut their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and an average price target of $107.77.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $98.22 on Friday. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $96.34 and its two-hundred day simple moving average is $97.22. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The stock has a market cap of $51.58 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 4.00 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same period last year, the business earned $2.13 EPS. The business’s revenue was down 15.7% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR’s payout ratio is presently 22.60%.

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.