Pitcairn Co. Reduces Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Pitcairn Co. cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 10.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,821 shares of the company’s stock after selling 551 shares during the quarter. Pitcairn Co.’s holdings in PACCAR were worth $597,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PCAR. Fisher Asset Management LLC increased its holdings in shares of PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after acquiring an additional 89,984 shares in the last quarter. Norges Bank purchased a new stake in PACCAR during the 4th quarter worth approximately $448,288,000. Charles Schwab Investment Management Inc. increased its stake in PACCAR by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock valued at $289,788,000 after purchasing an additional 54,273 shares in the last quarter. First Trust Advisors LP increased its stake in PACCAR by 0.9% during the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after purchasing an additional 23,394 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of PACCAR by 24.3% in the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after buying an additional 504,346 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PCAR. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Raymond James assumed coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average target price of $112.25.

PACCAR Stock Performance

PCAR opened at $97.60 on Friday. The firm has a fifty day moving average price of $105.46 and a 200 day moving average price of $108.49. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The stock has a market cap of $51.16 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.81 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the company posted $2.33 EPS. The company’s revenue was down 2.1% on a year-over-year basis. Equities research analysts anticipate that PACCAR Inc will post 8.22 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is currently 12.45%.

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.