British Columbia Investment Management Corp lowered its stake in Paccar Inc. (NASDAQ:PCAR) by 12.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 154,201 shares of the company’s stock after selling 21,806 shares during the period. British Columbia Investment Management Corp’s holdings in Paccar were worth $9,064,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Bank & Trust Co. boosted its position in shares of Paccar by 4.1% in the second quarter. Private Bank & Trust Co. now owns 12,199 shares of the company’s stock valued at $632,000 after buying an additional 475 shares during the last quarter. Marathon Asset Management LLP boosted its position in shares of Paccar by 1.9% in the second quarter. Marathon Asset Management LLP now owns 166,373 shares of the company’s stock valued at $8,629,000 after buying an additional 3,171 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Paccar by 75.0% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 10,500 shares of the company’s stock valued at $545,000 after buying an additional 4,500 shares during the last quarter. Baker Boyer National Bank boosted its position in shares of Paccar by 8.8% in the second quarter. Baker Boyer National Bank now owns 6,170 shares of the company’s stock valued at $320,000 after buying an additional 500 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its position in shares of Paccar by 34.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,721 shares of the company’s stock valued at $141,000 after buying an additional 700 shares during the last quarter. Institutional investors own 60.50% of the company’s stock.

Institutional Ownership by Quarter for Paccar (NASDAQ:PCAR)

Paccar Inc. (NASDAQ:PCAR) traded down 1.61% during trading on Monday, hitting $61.00. 1,462,743 shares of the stock traded hands. Paccar Inc. has a 12 month low of $43.46 and a 12 month high of $62.22. The firm’s 50-day moving average is $57.53 and its 200-day moving average is $56.63. The stock has a market cap of $21.38 billion, a P/E ratio of 37.13 and a beta of 1.30.

Paccar (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.01. The business earned $4.25 billion during the quarter, compared to analyst estimates of $4.08 billion. Paccar had a net margin of 3.41% and a return on equity of 20.96%. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. On average, analysts forecast that Paccar Inc. will post $3.90 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, November 16th. Paccar’s dividend payout ratio (DPR) is 58.54%.

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A number of analysts have recently weighed in on the stock. Jefferies Group raised their price target on shares of Paccar from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Zacks Investment Research cut shares of Paccar from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. assumed coverage on shares of Paccar in a report on Friday, September 30th. They issued an “outperform” rating and a $65.00 price target on the stock. Deutsche Bank AG assumed coverage on shares of Paccar in a report on Tuesday, September 6th. They issued a “hold” rating and a $63.00 price target on the stock. Finally, Barclays PLC raised their price target on shares of Paccar from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Wednesday, October 12th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Paccar has an average rating of “Hold” and an average price target of $56.13.

In other news, insider Mark C. Pigott sold 112,266 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $55.47, for a total value of $6,227,395.02. Following the completion of the sale, the insider now directly owns 2,998,711 shares of the company’s stock, valued at $166,338,499.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider T. Kyle Quinn sold 3,024 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $54.80, for a total value of $165,715.20. Following the completion of the sale, the insider now directly owns 16,672 shares of the company’s stock, valued at $913,625.60. The disclosure for this sale can be found here. 2.62% of the stock is owned by corporate insiders.

Paccar Company Profile

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.

5 Day Chart for NASDAQ:PCAR

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