Sterling Capital Management LLC lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,680 shares of the company’s stock after selling 2,210 shares during the period. Sterling Capital Management LLC’s holdings in PACCAR were worth $3,058,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of PCAR. Brandywine Oak Private Wealth LLC raised its holdings in PACCAR by 1.8% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 8,315 shares of the company’s stock valued at $566,000 after buying an additional 148 shares during the last quarter. Hartford Investment Management Co. raised its holdings in PACCAR by 0.4% during the 2nd quarter. Hartford Investment Management Co. now owns 46,237 shares of the company’s stock valued at $3,313,000 after buying an additional 168 shares during the last quarter. First National Bank of South Miami raised its holdings in PACCAR by 5.6% during the 2nd quarter. First National Bank of South Miami now owns 3,199 shares of the company’s stock valued at $224,000 after buying an additional 170 shares during the last quarter. O Shares Investment Advisers LLC raised its holdings in PACCAR by 1.5% during the 1st quarter. O Shares Investment Advisers LLC now owns 12,960 shares of the company’s stock valued at $883,000 after buying an additional 192 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in PACCAR by 11.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,909 shares of the company’s stock valued at $137,000 after buying an additional 192 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. Credit Suisse Group upped their price target on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Loop Capital lowered shares of PACCAR from a “hold” rating to a “sell” rating and lowered their price target for the company from $70.00 to $62.00 in a report on Tuesday, July 2nd. ValuEngine lowered shares of PACCAR from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of PACCAR from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $87.00 to $66.00 in a report on Wednesday, July 24th. Finally, Evercore ISI restated an “in-line” rating and issued a $76.00 price objective (up from $73.00) on shares of PACCAR in a report on Friday, May 31st. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. PACCAR currently has a consensus rating of “Hold” and a consensus target price of $68.89.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by ($0.04). PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the company posted $1.59 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that PACCAR Inc will post 6.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be issued a $0.32 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.28 annualized dividend and a yield of 1.80%. PACCAR’s dividend payout ratio (DPR) is presently 20.51%.
In other PACCAR news, VP David J. Danforth sold 848 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $71.66, for a total value of $60,767.68. Following the completion of the transaction, the vice president now directly owns 4,958 shares in the company, valued at approximately $355,290.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is currently owned by corporate insiders.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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