Hartford Investment Management Co. Sells 625 Shares of PACCAR Inc (NASDAQ:PCAR)

Hartford Investment Management Co. lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,344 shares of the company’s stock after selling 625 shares during the quarter. Hartford Investment Management Co.’s holdings in PACCAR were worth $3,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Everence Capital Management Inc. bought a new stake in PACCAR in the 4th quarter valued at $1,984,000. Sanctuary Advisors LLC increased its holdings in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after buying an additional 5,871 shares during the period. Mengis Capital Management Inc. increased its holdings in PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after buying an additional 5,433 shares during the period. Insight Wealth Strategies LLC increased its holdings in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,871 shares of company stock valued at $14,586,333 in the last ninety days. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

PACCAR stock opened at $103.11 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a market cap of $54.06 billion, a PE ratio of 13.04, a PEG ratio of 2.79 and a beta of 0.92. The company’s 50-day moving average is $109.08 and its two-hundred day moving average is $104.75.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts anticipate that PACCAR Inc will post 7.6 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 15.17%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCAR. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Citigroup reduced their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

PACCAR 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.