Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 41.6% during the third quarter, HoldingsChannel.com reports. The fund owned 3,087 shares of the company’s stock after selling 2,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PACCAR were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Flinton Capital Management LLC lifted its holdings in PACCAR by 30.6% during the second quarter. Flinton Capital Management LLC now owns 56,976 shares of the company’s stock worth $3,530,000 after acquiring an additional 13,360 shares during the period. Standard Life Aberdeen plc increased its position in PACCAR by 17.9% in the second quarter. Standard Life Aberdeen plc now owns 127,423 shares of the company’s stock worth $7,896,000 after buying an additional 19,376 shares during the last quarter. Garde Capital Inc. increased its position in PACCAR by 6.0% in the second quarter. Garde Capital Inc. now owns 13,275 shares of the company’s stock worth $823,000 after buying an additional 750 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in PACCAR in the second quarter worth $9,769,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in PACCAR by 2.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 132,924 shares of the company’s stock worth $8,237,000 after buying an additional 3,194 shares during the last quarter. Institutional investors and hedge funds own 61.28% of the company’s stock.
A number of analysts have issued reports on the company. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, July 16th. Loop Capital assumed coverage on PACCAR in a research report on Wednesday, October 17th. They issued a “hold” rating and a $68.00 target price for the company. BMO Capital Markets downgraded PACCAR from an “outperform” rating to a “market perform” rating and set a $80.00 target price for the company. in a research report on Wednesday, July 18th. BidaskClub downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Morgan Stanley set a $58.00 target price on PACCAR and gave the stock a “sell” rating in a research report on Wednesday, October 24th. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the stock. PACCAR presently has an average rating of “Hold” and a consensus price target of $68.73.
Shares of NASDAQ PCAR opened at $58.30 on Friday. The firm has a market capitalization of $19.80 billion, a PE ratio of 13.69, a P/E/G ratio of 0.85 and a beta of 1.25. PACCAR Inc has a fifty-two week low of $53.95 and a fifty-two week high of $79.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.31 and a quick ratio of 1.05.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.50 billion. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. As a group, equities research analysts predict that PACCAR Inc will post 6.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be given a $0.28 dividend. 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 (DPR) is presently 26.29%.
PACCAR declared that its Board of Directors has authorized a stock buyback plan on Monday, July 9th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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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