PACCAR Inc (NASDAQ:PCAR) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,032 shares of the company’s stock after selling 2,217 shares during the period. 1832 Asset Management L.P.’s holdings in PACCAR were worth $2,853,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PCAR. Norges Bank acquired a new position in shares of PACCAR in the 4th quarter valued at about $448,288,000. Capital International Investors increased its position in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares during the period. TD Asset Management Inc lifted its stake in PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after buying an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of PACCAR during the fourth quarter valued at $87,441,000. Finally, Epoch Investment Partners Inc. grew its position in shares of PACCAR by 113.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after acquiring an additional 562,571 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ PCAR traded up $1.64 during midday trading on Friday, reaching $99.24. The company’s stock had a trading volume of 3,091,675 shares, compared to its average volume of 3,505,084. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. The company has a 50 day moving average price of $105.33 and a 200 day moving average price of $108.61. The company has a current ratio of 1.81, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the firm posted $2.33 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts expect that PACCAR Inc will post 8.11 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.21%. PACCAR’s dividend payout ratio is presently 12.45%.

Insiders Place Their Bets

In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of analyst reports. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $114.27.

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.