Fiduciary Trust Co. lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,000 shares of the company’s stock after selling 275 shares during the quarter. Fiduciary Trust Co.’s holdings in PACCAR were worth $793,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Ffcm LLC increased its position in shares of PACCAR by 7.2% during the 2nd quarter. Ffcm LLC now owns 11,119 shares of the company’s stock worth $734,000 after purchasing an additional 745 shares in the last quarter. Atlantic Trust Group LLC increased its position in shares of PACCAR by 0.6% during the 2nd quarter. Atlantic Trust Group LLC now owns 12,279 shares of the company’s stock worth $810,000 after purchasing an additional 68 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of PACCAR by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,098 shares of the company’s stock worth $1,724,000 after purchasing an additional 69 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of PACCAR by 8.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,360 shares of the company’s stock worth $222,000 after purchasing an additional 257 shares in the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new stake in shares of PACCAR during the 2nd quarter worth about $3,038,000. Institutional investors and hedge funds own 62.12% of the company’s stock.
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A number of equities research analysts have commented on PCAR shares. Zacks Investment Research lowered shares of PACCAR from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BidaskClub lowered shares of PACCAR from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, June 15th. Citigroup Inc. increased their price objective on shares of PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $71.74.
PACCAR Inc. (PCAR) opened at 71.42 on Friday. The company’s 50-day moving average is $66.39 and its 200 day moving average is $66.14. PACCAR Inc. has a 1-year low of $53.38 and a 1-year high of $71.50. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 19.12 and a beta of 1.15.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that PACCAR Inc. will post $4.00 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, November 13th. PACCAR’s payout ratio is presently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the sale, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.64% of the company’s stock.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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