Whittier Trust Co. Sells 131 Shares of PACCAR Inc. (PCAR)
Whittier Trust Co. cut its position in PACCAR Inc. (NASDAQ:PCAR) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,682 shares of the company’s stock after selling 131 shares during the period. Whittier Trust Co.’s holdings in PACCAR were worth $111,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PCAR. Teachers Advisors LLC raised its stake in PACCAR by 61.0% in the fourth quarter. Teachers Advisors LLC now owns 1,330,824 shares of the company’s stock valued at $85,040,000 after buying an additional 504,090 shares during the period. Kentucky Retirement Systems purchased a new stake in PACCAR during the fourth quarter valued at about $1,625,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in PACCAR during the fourth quarter valued at about $725,000. Chevy Chase Trust Holdings Inc. raised its stake in PACCAR by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 304,494 shares of the company’s stock valued at $20,462,000 after buying an additional 9,183 shares during the period. Finally, Boltwood Capital Management purchased a new stake in PACCAR during the first quarter valued at about $201,000. 61.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of PACCAR Inc. (NASDAQ:PCAR) traded down 0.04% on Monday, reaching $68.55. 1,159,571 shares of the company were exchanged. The firm has a market capitalization of $24.08 billion, a PE ratio of 18.35 and a beta of 1.14. The stock’s 50-day moving average is $66.57 and its 200 day moving average is $66.49. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $70.32.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share. On average, analysts forecast that PACCAR Inc. will post $3.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, August 14th. PACCAR’s dividend payout ratio is currently 26.74%.
Several research firms have issued reports on PCAR. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $72.00 price objective (up from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. increased their price objective on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. UBS AG reissued a “buy” rating and issued a $76.00 price objective (up from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $72.00.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the sale, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.64% of the stock is owned by corporate insiders.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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