Nisa Investment Advisors LLC Sells 337 Shares of PACCAR Inc (NASDAQ:PCAR)

Nisa Investment Advisors LLC trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 0.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 212,957 shares of the company’s stock after selling 337 shares during the period. Nisa Investment Advisors LLC’s holdings in PACCAR were worth $22,800,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. CVA Family Office LLC lifted its stake in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares during the last quarter. Global Financial Private Client LLC raised its holdings in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC raised its holdings in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after buying an additional 98 shares during the period. Grove Bank & Trust raised its holdings in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares during the period. Finally, Insight Wealth Partners LLC raised its holdings in shares of PACCAR by 1.4% in the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after buying an additional 104 shares during the period. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PCAR shares. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Truist Financial increased their price target on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Citigroup reduced their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $120.13.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PACCAR stock opened at $109.84 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The business has a 50-day moving average price of $110.84 and a 200 day moving average price of $104.19. The firm has a market cap of $57.59 billion, a PE ratio of 12.27, a P/E/G ratio of 2.78 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the business earned $2.34 EPS. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts predict that PACCAR Inc will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 14.75%.

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.