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

Hartford Investment Management Co. trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Golden State Wealth Management LLC bought a new position in shares of PACCAR during the 4th quarter worth approximately $37,000. Regents Gate Capital LLP bought a new position in shares of PACCAR during the 4th quarter worth approximately $44,000. Grove Bank & Trust grew its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares in the last quarter. Sander Capital Advisors Inc. bought a new position in shares of PACCAR during the 3rd quarter worth approximately $50,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of PACCAR during the 3rd quarter worth approximately $52,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Down 2.8 %

Shares of PACCAR stock opened at $103.11 on Thursday. The firm has a 50-day moving average of $109.08 and a 200-day moving average of $104.75. The stock 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. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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%. As a group, sell-side analysts forecast that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PCAR shares. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.95.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. 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 over the last quarter. 2.02% of the stock is owned by corporate insiders.

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.