Vanguard Group Inc. Sells 370,163 Shares of PACCAR Inc. $PCAR

Vanguard Group Inc. cut its holdings in PACCAR Inc. (NASDAQ:PCAR) by 0.6% in the second quarter, Holdings Channel reports. The fund owned 62,625,766 shares of the company’s stock after selling 370,163 shares during the quarter. Vanguard Group Inc. owned 0.12% of PACCAR worth $5,953,205,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Wellington Management Group LLP raised its holdings in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares in the last quarter. Geode Capital Management LLC increased its holdings in PACCAR by 1.3% during the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock valued at $1,184,112,000 after buying an additional 159,632 shares during the period. Northern Trust Corp raised its stake in PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after buying an additional 37,609 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after buying an additional 97,197 shares during the period. Finally, Invesco Ltd. boosted its position in PACCAR by 4.4% during the 1st quarter. Invesco Ltd. now owns 4,965,976 shares of the company’s stock valued at $483,537,000 after acquiring an additional 210,825 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 3.0%

NASDAQ:PCAR opened at $97.00 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a market cap of $50.94 billion, a PE ratio of 18.98, a P/E/G ratio of 4.11 and a beta of 0.95. The company’s 50 day moving average is $98.13 and its two-hundred day moving average is $96.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. The company’s quarterly revenue was down 20.7% on a year-over-year basis. Analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s payout ratio is presently 25.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $106.54.

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.