Ameriprise Financial Inc. Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Ameriprise Financial Inc. lessened its position in PACCAR Inc (NASDAQ:PCAR) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 843,885 shares of the company’s stock after selling 154,157 shares during the quarter. Ameriprise Financial Inc. owned about 0.16% of PACCAR worth $88,038,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Aptus Capital Advisors LLC lifted its stake in PACCAR by 30.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,977 shares of the company’s stock worth $520,000 after purchasing an additional 1,172 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of PACCAR by 403,357.1% in the fourth quarter. Ancora Advisors LLC now owns 84,726 shares of the company’s stock valued at $8,813,000 after acquiring an additional 84,705 shares in the last quarter. AlTi Global Inc. purchased a new position in PACCAR in the fourth quarter valued at $31,549,000. Appian Way Asset Management LP purchased a new stake in PACCAR during the 4th quarter worth about $8,314,000. Finally, Freestone Grove Partners LP acquired a new stake in PACCAR in the 4th quarter valued at about $7,545,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PCAR. Royal Bank of Canada cut their target price on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Thursday. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. StockNews.com raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and dropped their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $105.23.

PACCAR Trading Up 3.2 %

Shares of PACCAR stock opened at $91.55 on Friday. The company’s fifty day moving average is $94.67 and its two-hundred day moving average is $104.30. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market capitalization of $48.06 billion, a P/E ratio of 11.57, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business’s revenue was down 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 EPS. Analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 20.00%.

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.