Commonwealth Equity Services LLC reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,231 shares of the company’s stock after selling 395 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PACCAR were worth $2,536,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PCAR. DNB Asset Management AS lifted its stake in shares of PACCAR by 32.9% in the second quarter. DNB Asset Management AS now owns 117,534 shares of the company’s stock worth $8,422,000 after acquiring an additional 29,109 shares during the period. Denali Advisors LLC acquired a new position in shares of PACCAR in the second quarter worth approximately $1,376,000. Crossmark Global Holdings Inc. lifted its stake in shares of PACCAR by 4.7% in the second quarter. Crossmark Global Holdings Inc. now owns 31,571 shares of the company’s stock worth $2,262,000 after acquiring an additional 1,428 shares during the period. Salem Capital Management Inc. lifted its stake in shares of PACCAR by 4.2% in the second quarter. Salem Capital Management Inc. now owns 19,800 shares of the company’s stock worth $1,419,000 after acquiring an additional 800 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of PACCAR in the second quarter worth approximately $469,000. 63.42% of the stock is currently owned by institutional investors.
In other news, SVP Darrin C. Siver sold 12,474 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $77.01, for a total transaction of $960,622.74. Following the transaction, the senior vice president now owns 30,600 shares of the company’s stock, valued at approximately $2,356,506. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 7,927 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $77.73, for a total value of $616,165.71. Following the transaction, the chief financial officer now directly owns 40,051 shares in the company, valued at approximately $3,113,164.23. The disclosure for this sale can be found here. Insiders have sold a total of 106,949 shares of company stock worth $8,207,798 in the last ninety days. Insiders own 2.32% of the company’s stock.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts predict that PACCAR Inc will post 6.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, November 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.60%. PACCAR’s dividend payout ratio is presently 20.51%.
A number of equities analysts recently commented on the company. OTR Global lowered PACCAR from a “mixed” rating to a “negative” rating in a research note on Wednesday, October 9th. Credit Suisse Group lifted their price objective on PACCAR from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. ValuEngine lowered PACCAR from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Buckingham Research lifted their price objective on PACCAR from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Co boosted their price target on PACCAR from $72.00 to $75.00 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $71.64.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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