TD Asset Management Inc. boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 457,986 shares of the company’s stock after buying an additional 5,713 shares during the period. TD Asset Management Inc. owned 0.13% of PACCAR worth $31,230,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vigilant Capital Management LLC bought a new position in shares of PACCAR in the second quarter worth $105,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of PACCAR by 5,888.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock worth $126,000 after purchasing an additional 2,002 shares in the last quarter. Amussen Hunsaker Associates LLC bought a new position in shares of PACCAR in the second quarter worth $132,000. Valeo Financial Advisors LLC grew its stake in shares of PACCAR by 85.5% in the third quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock worth $123,000 after purchasing an additional 990 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of PACCAR in the third quarter worth $178,000. 61.33% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP David J. Danforth sold 651 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $59.44, for a total transaction of $38,695.44. Following the completion of the sale, the vice president now directly owns 5,453 shares of the company’s stock, valued at $324,126.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark C. Pigott sold 194,004 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total value of $11,415,195.36. Following the sale, the insider now directly owns 3,080,449 shares of the company’s stock, valued at $181,253,619.16. The disclosure for this sale can be found here. Corporate insiders own 2.64% of the company’s stock.
Several research analysts recently weighed in on PCAR shares. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Thursday, October 25th. Credit Suisse Group decreased their target price on PACCAR from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, July 25th. ValuEngine cut PACCAR from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research note on Friday, October 5th. Finally, Morgan Stanley set a $58.00 target price on PACCAR and gave the company a “sell” rating in a research note on Wednesday, October 24th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $68.73.
Shares of NASDAQ PCAR opened at $58.36 on Friday. PACCAR Inc has a 12 month low of $53.95 and a 12 month high of $79.69. The firm has a market cap of $21.00 billion, a PE ratio of 10.38, a P/E/G ratio of 0.90 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.63 and a quick ratio of 1.05.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 23rd. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the business posted $1.14 earnings per share. PACCAR’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts anticipate that PACCAR Inc will post 6.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, November 9th. PACCAR’s dividend payout ratio is 26.29%.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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