PACCAR Inc. $PCAR Shares Sold by Creative Planning

Creative Planning reduced its position in PACCAR Inc. (NASDAQ:PCAR) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,109 shares of the company’s stock after selling 10,370 shares during the quarter. Creative Planning’s holdings in PACCAR were worth $6,665,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares during the period. Wellington Management Group LLP boosted its position in 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 buying an additional 3,379,165 shares during the period. Geode Capital Management LLC grew its stake in shares of PACCAR by 1.3% in the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after acquiring an additional 159,632 shares in the last quarter. Northern Trust Corp increased its position in shares of PACCAR by 0.5% during the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after acquiring an additional 37,609 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of PACCAR by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after acquiring an additional 97,197 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 0.5%

PCAR opened at $96.49 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a market cap of $50.68 billion, a P/E ratio of 18.88, a PEG ratio of 4.11 and a beta of 0.95. The business’s 50-day simple moving average is $98.08 and its 200-day simple moving average is $96.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period last year, the company earned $1.85 earnings per share. As a group, equities research analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $90.00 target price on shares of PACCAR in a report on Tuesday, October 21st. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Morgan Stanley set a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. UBS Group set a $103.00 target price on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company started coverage on shares of PACCAR in a research note on Thursday, November 13th. They issued a “positive” rating and a $106.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $106.54.

About PACCAR

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.