Parametric Portfolio Associates LLC raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 763,018 shares of the company’s stock after buying an additional 22,184 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.22% of PACCAR worth $55,197,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of PACCAR by 6.6% during the 2nd quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock worth $1,684,572,000 after purchasing an additional 1,572,038 shares during the last quarter. Vanguard Group Inc. raised its stake in PACCAR by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock worth $1,621,636,000 after acquiring an additional 1,164,896 shares in the last quarter. Bank of New York Mellon Corp raised its stake in PACCAR by 11.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock worth $489,402,000 after acquiring an additional 694,185 shares in the last quarter. Victory Capital Management Inc. raised its stake in PACCAR by 5.5% during the 3rd quarter. Victory Capital Management Inc. now owns 2,806,586 shares of the company’s stock worth $203,028,000 after acquiring an additional 145,932 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after acquiring an additional 2,038,761 shares in the last quarter. 62.26% of the stock is owned by institutional investors.
In other news, VP C Michael Dozier sold 3,618 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alma Lily Ley sold 4,024 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the transaction, the vice president now owns 24,319 shares of the company’s stock, valued at $1,726,649. The disclosure for this sale can be found here. Insiders sold 106,598 shares of company stock valued at $7,597,908 over the last 90 days. Insiders own 2.64% of the company’s stock.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. PACCAR’s revenue for the quarter was up 19.7% compared to the same quarter last year. equities analysts expect that PACCAR Inc will post 4.19 earnings per share for the current year.
The company also recently announced a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were paid a $1.20 dividend. The ex-dividend date was Wednesday, December 13th. This represents a dividend yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.
Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $82.00 price target on shares of PACCAR in a research note on Thursday. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Wells Fargo & Co dropped their price objective on shares of PACCAR from $77.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 25th. ValuEngine downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Citigroup downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their target price for the company from $81.00 to $75.00 in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. PACCAR currently has an average rating of “Hold” and a consensus target price of $75.32.
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PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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