Caisse DE Depot ET Placement DU Quebec decreased its stake in PACCAR Inc. (NASDAQ:PCAR) by 6.1% during the third quarter, Holdings Channel reports. The firm owned 154,000 shares of the company’s stock after selling 10,000 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in PACCAR were worth $9,052,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of PCAR. Assetmark Inc. raised its position in shares of PACCAR by 1.8% in the third quarter. Assetmark Inc. now owns 2,508 shares of the company’s stock worth $147,000 after buying an additional 45 shares during the period. Regentatlantic Capital LLC bought a new position in shares of PACCAR during the third quarter worth approximately $202,000. Heartland Advisors Inc. bought a new position in shares of PACCAR during the third quarter worth approximately $215,000. Raymond James Trust N.A. bought a new position in shares of PACCAR during the third quarter worth approximately $216,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of PACCAR during the third quarter worth approximately $255,000. 61.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PACCAR Inc. (NASDAQ:PCAR) traded up 1.15% during trading on Friday, reaching $68.73. 1,899,608 shares of the company traded hands. The firm’s 50-day moving average is $66.64 and its 200-day moving average is $61.04. PACCAR Inc. has a 12-month low of $48.17 and a 12-month high of $69.80. The stock has a market capitalization of $24.10 billion, a PE ratio of 46.44 and a beta of 1.26.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 31st. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by $0.04. The business earned $3.77 billion during the quarter, compared to analysts’ expectations of $3.86 billion. PACCAR had a return on equity of 20.21% and a net margin of 3.12%. PACCAR’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, equities analysts predict that PACCAR Inc. will post $3.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, February 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.40%. PACCAR’s payout ratio is 64.86%.
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PCAR has been the topic of a number of research reports. Deutsche Bank AG decreased their price target on shares of PACCAR from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, October 26th. TheStreet lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. J P Morgan Chase & Co upgraded shares of PACCAR from an “underweight” rating to a “neutral” rating and upped their price target for the company from $50.00 to $60.00 in a research note on Friday, December 9th. Robert W. Baird lowered shares of PACCAR from an “outperform” rating to a “neutral” rating and upped their price target for the company from $60.00 to $62.00 in a research note on Tuesday, January 3rd. They noted that the move was a valuation call. Finally, Evercore ISI upgraded shares of PACCAR from a “hold” rating to a “buy” rating and upped their price target for the company from $58.00 to $77.00 in a research note on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $66.50.
In related news, insider Michael T. Barkley sold 881 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $68.52, for a total transaction of $60,366.12. Following the completion of the transaction, the insider now owns 15,033 shares of the company’s stock, valued at $1,030,061.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert A. Bengston sold 20,472 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $68.18, for a total transaction of $1,395,780.96. Following the transaction, the insider now directly owns 24,808 shares of the company’s stock, valued at approximately $1,691,409.44. The disclosure for this sale can be found here. Insiders sold 75,421 shares of company stock valued at $5,148,223 in the last quarter. Corporate insiders own 2.62% of the company’s stock.
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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