Korea Investment CORP Sells 44,190 Shares of PACCAR Inc. $PCAR

Korea Investment CORP decreased its stake in PACCAR Inc. (NASDAQ:PCAR) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,323 shares of the company’s stock after selling 44,190 shares during the quarter. Korea Investment CORP owned approximately 0.08% of PACCAR worth $38,150,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PCAR. Brighton Jones LLC raised its stake in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of PACCAR by 13.1% in the first quarter. Avantax Advisory Services Inc. now owns 16,687 shares of the company’s stock worth $1,625,000 after purchasing an additional 1,939 shares in the last quarter. Cetera Investment Advisers raised its position in shares of PACCAR by 6.7% during the 1st quarter. Cetera Investment Advisers now owns 47,027 shares of the company’s stock valued at $4,579,000 after purchasing an additional 2,952 shares during the period. LPL Financial LLC lifted its stake in shares of PACCAR by 32.5% during the 1st quarter. LPL Financial LLC now owns 281,420 shares of the company’s stock valued at $27,402,000 after buying an additional 69,015 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of PACCAR by 6.5% during the 1st quarter. Mackenzie Financial Corp now owns 86,474 shares of the company’s stock valued at $8,420,000 after buying an additional 5,255 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

NASDAQ PCAR opened at $105.42 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The business has a 50 day simple moving average of $98.33 and a two-hundred day simple moving average of $97.38. The stock has a market capitalization of $55.37 billion, a PE ratio of 20.63, a P/E/G ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. The firm’s revenue was down 20.7% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PCAR shares. Wells Fargo & Company initiated coverage on PACCAR in a report on Thursday, November 13th. They set a “positive” rating and a $106.00 price target on the stock. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Truist Financial upped their price target on PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Finally, Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $106.54.

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.