Baird Financial Group Inc. Reduces Stake in PACCAR Inc. $PCAR

Baird Financial Group Inc. lessened its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.0% in the second quarter, Holdings Channel reports. The fund owned 977,679 shares of the company’s stock after selling 20,309 shares during the quarter. Baird Financial Group Inc.’s holdings in PACCAR were worth $92,938,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its stake in shares of PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd lifted its stake in shares of PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of PACCAR by 43.8% in the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after buying an additional 134 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in PACCAR during the second quarter valued at approximately $43,000. Finally, Quarry LP bought a new stake in PACCAR during the first quarter valued at approximately $62,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 2.5%

Shares of PCAR stock opened at $108.54 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The stock has a fifty day simple moving average of $98.86 and a two-hundred day simple moving average of $97.60. The firm has a market capitalization of $57.01 billion, a PE ratio of 21.24, a PEG ratio of 14.22 and a beta of 1.01. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the company earned $1.85 EPS. The business’s revenue was down 20.7% on a year-over-year basis. On average, analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, November 12th. PACCAR’s dividend payout ratio is presently 25.83%.

Insider Transactions at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PCAR has been the topic of several analyst reports. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Jefferies Financial Group reissued a “hold” rating and set a $90.00 price target on shares of PACCAR in a report on Tuesday, October 21st. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $106.54.

About PACCAR

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.