Lazard Asset Management LLC Sells 775 Shares of PACCAR Inc (NASDAQ:PCAR)

Lazard Asset Management LLC lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,895 shares of the company’s stock after selling 775 shares during the quarter. Lazard Asset Management LLC’s holdings in PACCAR were worth $7,915,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in PACCAR in the fourth quarter worth about $448,288,000. Capital International Investors raised its holdings in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares during the period. TD Asset Management Inc lifted its position in PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after buying an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in PACCAR during the fourth quarter worth $87,441,000. Finally, Epoch Investment Partners Inc. increased its position in PACCAR by 113.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after acquiring an additional 562,571 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by insiders.

PACCAR Stock Down 0.8 %

PCAR stock opened at $98.47 on Monday. The firm has a 50 day moving average of $105.33 and a 200 day moving average of $108.71. The stock has a market capitalization of $51.61 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a quick ratio of 1.43, a current ratio of 1.81 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that PACCAR Inc will post 8.11 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Raymond James started coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group lifted their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $114.27.

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.