PACCAR Inc (PCAR) Position Reduced by Morgan Stanley

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Morgan Stanley lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,765,606 shares of the company’s stock after selling 128,637 shares during the period. Morgan Stanley owned about 0.50% of PACCAR worth $109,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of PACCAR by 18.6% in the 1st quarter. Wells Fargo & Company MN now owns 940,026 shares of the company’s stock valued at $62,201,000 after buying an additional 147,511 shares during the period. KBC Group NV raised its holdings in PACCAR by 9.2% during the first quarter. KBC Group NV now owns 92,983 shares of the company’s stock worth $6,153,000 after purchasing an additional 7,832 shares during the last quarter. Northern Trust Corp raised its holdings in shares of PACCAR by 2.6% in the first quarter. Northern Trust Corp now owns 4,159,962 shares of the company’s stock worth $275,264,000 after acquiring an additional 107,373 shares during the last quarter. Glen Harbor Capital Management LLC raised its holdings in shares of PACCAR by 27.8% in the first quarter. Glen Harbor Capital Management LLC now owns 76,328 shares of the company’s stock worth $5,051,000 after acquiring an additional 16,604 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of PACCAR by 2.2% in the first quarter. Gabelli Funds LLC now owns 316,300 shares of the company’s stock worth $20,930,000 after acquiring an additional 6,800 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.

In other PACCAR news, VP Douglas S. Grandstaff sold 580 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $65.90, for a total transaction of $38,222.00. Following the completion of the transaction, the vice president now directly owns 5,891 shares of the company’s stock, valued at approximately $388,216.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Darrin C. Siver sold 5,750 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $64.46, for a total value of $370,645.00. Following the sale, the insider now owns 22,596 shares of the company’s stock, valued at approximately $1,456,538.16. The disclosure for this sale can be found here. Insiders sold a total of 9,634 shares of company stock valued at $625,510 over the last three months. Corporate insiders own 2.64% of the company’s stock.

A number of equities analysts have recently weighed in on PCAR shares. ValuEngine cut PACCAR from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. BidaskClub downgraded PACCAR from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 21st. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, June 26th. Mizuho initiated coverage on PACCAR in a research report on Friday, June 29th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, Robert W. Baird downgraded PACCAR from a “neutral” rating to an “underperform” rating in a research report on Monday, July 2nd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $71.64.

NASDAQ PCAR traded down $0.72 on Friday, hitting $62.13. 2,730,412 shares of the stock traded hands, compared to its average volume of 2,255,387. The stock has a market capitalization of $23.90 billion, a P/E ratio of 14.58, a PEG ratio of 1.05 and a beta of 1.25. PACCAR Inc has a twelve month low of $59.82 and a twelve month high of $79.69. The company has a quick ratio of 2.34, a current ratio of 2.52 and a debt-to-equity ratio of 0.69.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 24th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.16. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.39 billion. PACCAR had a return on equity of 22.68% and a net margin of 9.39%. The business’s revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 earnings per share. On average, analysts anticipate that PACCAR Inc will post 6.03 EPS for the current year.

PACCAR announced that its Board of Directors has approved a share repurchase plan on Monday, July 9th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, November 9th. PACCAR’s dividend payout ratio (DPR) is 26.29%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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