Orion Porfolio Solutions LLC Sells 4,459 Shares of PACCAR Inc. $PCAR

Orion Porfolio Solutions LLC lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,945 shares of the company’s stock after selling 4,459 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in PACCAR were worth $5,983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PACCAR during the second quarter worth approximately $472,520,000. Wellington Management Group LLP grew its position in PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after acquiring an additional 3,379,165 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in PACCAR by 177.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after purchasing an additional 1,677,736 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in PACCAR by 16,393.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock valued at $139,402,000 after purchasing an additional 1,422,992 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in PACCAR by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

PACCAR stock opened at $112.96 on Tuesday. The company has a market cap of $59.33 billion, a PE ratio of 22.11, a PEG ratio of 15.26 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $115.43. The company’s 50-day moving average is $100.87 and its two-hundred day moving average is $98.55.

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

PACCAR Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s dividend payout ratio is 25.83%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company assumed coverage on shares of PACCAR in a report on Thursday, November 13th. They set a “positive” rating and a $106.00 price objective on the stock. Citigroup reaffirmed a “neutral” rating and issued a $115.00 target price (up from $105.00) on shares of PACCAR in a research note on Thursday. Finally, Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $109.12.

PACCAR Company Profile

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.