Gamble Jones Investment Counsel Trims Stake in PACCAR Inc (NASDAQ:PCAR)

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Gamble Jones Investment Counsel reduced its position in PACCAR Inc (NASDAQ:PCAR) by 9.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,215 shares of the company’s stock after selling 435 shares during the period. Gamble Jones Investment Counsel’s holdings in PACCAR were worth $295,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of PACCAR by 1.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,557 shares of the company’s stock valued at $900,000 after purchasing an additional 135 shares during the last quarter. Trustcore Financial Services LLC lifted its holdings in shares of PACCAR by 1.8% in the 3rd quarter. Trustcore Financial Services LLC now owns 8,414 shares of the company’s stock valued at $589,000 after purchasing an additional 150 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of PACCAR by 35.0% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 606 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares during the last quarter. Squar Milner Financial Services LLC lifted its holdings in shares of PACCAR by 7.9% in the 3rd quarter. Squar Milner Financial Services LLC now owns 2,250 shares of the company’s stock valued at $157,000 after purchasing an additional 165 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of PACCAR by 1.0% in the 3rd quarter. Creative Planning now owns 17,109 shares of the company’s stock valued at $1,198,000 after purchasing an additional 167 shares during the last quarter. 63.42% of the stock is owned by institutional investors and hedge funds.

In related news, VP Henricus M. B. Wolters sold 7,766 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $76.13, for a total value of $591,225.58. Following the sale, the vice president now owns 3,306 shares of the company’s stock, valued at approximately $251,685.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 7,927 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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. In the last ninety days, insiders sold 106,949 shares of company stock worth $8,207,798. 2.32% of the stock is owned by corporate insiders.

PCAR stock traded up $0.20 during trading on Friday, hitting $80.07. The company had a trading volume of 1,099,800 shares, compared to its average volume of 1,830,361. The firm has a 50-day moving average price of $72.20 and a 200-day moving average price of $69.73. The firm has a market cap of $27.56 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 2.23, a current ratio of 2.39 and a debt-to-equity ratio of 0.67. PACCAR Inc has a 1-year low of $53.43 and a 1-year high of $80.57.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.75 earnings per share (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 analyst estimates of $5.97 billion. During the same quarter in the prior year, the company earned $1.55 EPS. PACCAR’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that PACCAR Inc will post 6.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, November 8th. PACCAR’s payout ratio is currently 20.51%.

PCAR has been the subject of several research reports. Wells Fargo & Co boosted their target price on PACCAR from $72.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Credit Suisse Group boosted their target price on PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Buckingham Research boosted their target price on PACCAR from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price target on PACCAR from $70.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. PACCAR has an average rating of “Hold” and a consensus price target of $71.64.

PACCAR Profile

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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Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCAR).

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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