Pictet Asset Management Holding SA Has $25.88 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Pictet Asset Management Holding SA cut its stake in PACCAR Inc (NASDAQ:PCAR) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 248,816 shares of the company’s stock after selling 23,822 shares during the quarter. Pictet Asset Management Holding SA’s holdings in PACCAR were worth $25,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Everence Capital Management Inc. purchased a new position in PACCAR during the fourth quarter worth about $1,984,000. Cullen Frost Bankers Inc. boosted its stake in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after buying an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of PACCAR by 19.3% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock valued at $138,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $97.37 on Tuesday. The business’s fifty day moving average is $104.93 and its 200 day moving average is $106.74. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $124.39.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.36%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Activity

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last three months. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the subject of a number of recent analyst reports. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. UBS Group cut shares of PACCAR from a “buy” rating to a “neutral” rating and dropped their target price for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average target price of $117.54.

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.