Vontobel Holding Ltd. Sells 106,538 Shares of PACCAR Inc (NASDAQ:PCAR)

Vontobel Holding Ltd. cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 49.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,990 shares of the company’s stock after selling 106,538 shares during the quarter. Vontobel Holding Ltd.’s holdings in PACCAR were worth $10,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of PACCAR by 49.0% during the 1st quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after buying an additional 7,020,923 shares during the period. Geode Capital Management LLC lifted its holdings in shares of PACCAR by 53.3% during the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after buying an additional 4,082,677 shares during the period. Norges Bank bought a new position in shares of PACCAR during the 4th quarter valued at $323,885,000. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 249.2% during the 1st quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company’s stock valued at $338,663,000 after buying an additional 2,744,040 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of PACCAR by 2,578.2% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company’s stock valued at $167,846,000 after buying an additional 2,207,357 shares during the period. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Down 0.4 %

Shares of PCAR stock opened at $117.54 on Wednesday. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The firm has a market capitalization of $61.59 billion, a PE ratio of 13.40, a PEG ratio of 1.79 and a beta of 0.92. The stock has a fifty day simple moving average of $115.48 and a two-hundred day simple moving average of $100.46.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the business posted $1.76 EPS. PACCAR’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts predict that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.92%. PACCAR’s payout ratio is 12.31%.

Insider Activity

In other news, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

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.