PACCAR Inc. $PCAR Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,699,880 shares of the company’s stock after selling 114,369 shares during the period. TD Asset Management Inc’s holdings in PACCAR were worth $186,154,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PCAR. Brighton Jones LLC grew its holdings in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares in the last quarter. Focus Partners Wealth grew its holdings in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after purchasing an additional 5,327 shares in the last quarter. Ieq Capital LLC grew its holdings in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after purchasing an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in PACCAR during the 2nd quarter valued at $81,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Up 3.2%

NASDAQ PCAR opened at $118.07 on Friday. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The company has a market capitalization of $62.14 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 1.06 and a beta of 0.98. The company’s fifty day moving average price is $117.35 and its two-hundred day moving average price is $116.79.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the firm posted $1.46 EPS. The firm’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a $0.35 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Analysts Set New Price Targets

PCAR has been the topic of a number of research analyst reports. BNP Paribas Exane initiated coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Truist Financial increased their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $122.00.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.