Ballentine Partners LLC Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

Ballentine Partners LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,876 shares of the company’s stock after selling 690 shares during the period. Ballentine Partners LLC’s holdings in PACCAR were worth $580,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Legal & General Group Plc increased its position in shares of PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after purchasing an additional 242,435 shares during the last quarter. Capital International Investors raised its stake in shares of PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of PACCAR by 1.5% during the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after purchasing an additional 48,784 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in 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 purchasing an additional 504,346 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $105.90 on Monday. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The company has a market cap of $55.51 billion, a PE ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91. The stock has a 50 day simple moving average of $99.39 and a 200-day simple moving average of $103.09. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the prior year, the business posted $2.34 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities research analysts forecast that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Evercore ISI dropped their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Citigroup raised their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $114.18.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.02% of the company’s stock.

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.