Toronto Dominion Bank Decreases Stake in PACCAR Inc (NASDAQ:PCAR)

Toronto Dominion Bank reduced its position in PACCAR Inc (NASDAQ:PCAR) by 9.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 217,207 shares of the company’s stock after selling 21,958 shares during the period. Toronto Dominion Bank’s holdings in PACCAR were worth $15,561,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PCAR. Destination Wealth Management purchased a new position in PACCAR in the 2nd quarter valued at about $25,000. Virtus ETF Advisers LLC purchased a new position in PACCAR in the 2nd quarter valued at about $26,000. Advisory Services Network LLC boosted its position in PACCAR by 149.4% in the 2nd quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock valued at $31,000 after buying an additional 260 shares during the last quarter. Enterprise Financial Services Corp boosted its position in PACCAR by 76.8% in the 2nd quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock valued at $35,000 after buying an additional 212 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in PACCAR in the 1st quarter valued at about $41,000. 63.66% of the stock is owned by institutional investors.

PCAR has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of PACCAR from an “underweight” rating to a “neutral” rating and cut their target price for the company from $87.00 to $66.00 in a research note on Wednesday, July 24th. Credit Suisse Group upped their target price on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Loop Capital lowered shares of PACCAR from a “hold” rating to a “sell” rating and cut their target price for the company from $70.00 to $62.00 in a research note on Tuesday, July 2nd. Finally, Morgan Stanley upped their target price on shares of PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $68.89.

In related news, VP David J. Danforth sold 848 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $71.66, for a total transaction of $60,767.68. Following the sale, the vice president now owns 4,958 shares in the company, valued at $355,290.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.32% of the stock is owned by corporate insiders.

Shares of PACCAR stock traded up $0.42 during trading on Friday, reaching $67.41. The company had a trading volume of 25,972 shares, compared to its average volume of 1,812,701. The company has a market cap of $23.39 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26. The firm’s fifty day moving average is $67.31 and its 200-day moving average is $68.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.26 and a current ratio of 2.43. PACCAR Inc has a fifty-two week low of $53.43 and a fifty-two week high of $73.00.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). The company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.21 billion. PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 EPS. On average, research analysts anticipate that PACCAR Inc will post 6.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 8th. This represents a $1.28 annualized dividend and a yield of 1.90%. PACCAR’s dividend payout ratio (DPR) is 20.51%.

About PACCAR

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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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