Gateway Investment Advisers LLC reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 68.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,516 shares of the company’s stock after selling 9,808 shares during the quarter. Gateway Investment Advisers LLC’s holdings in PACCAR were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Destination Wealth Management bought a new position in PACCAR in the second quarter valued at about $25,000. Virtus ETF Advisers LLC purchased a new stake in PACCAR in the second quarter worth about $26,000. Advisory Services Network LLC increased its position in PACCAR by 149.4% in the second quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock worth $31,000 after buying an additional 260 shares in the last quarter. Enterprise Financial Services Corp increased its position in PACCAR by 76.8% in the second quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock worth $35,000 after buying an additional 212 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in PACCAR in the second quarter worth about $41,000. 63.68% of the stock is currently owned by institutional investors.

NASDAQ:PCAR opened at $72.04 on Monday. The company has a current ratio of 2.43, a quick ratio of 2.26 and a debt-to-equity ratio of 0.70. PACCAR Inc has a 12-month low of $53.43 and a 12-month high of $73.00. The stock has a 50-day moving average price of $68.77 and a 200 day moving average price of $68.99. The stock has a market capitalization of $24.52 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.50 and a beta of 1.26.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.04). PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the business posted $1.59 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc will post 6.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, November 8th. PACCAR’s dividend payout ratio is currently 20.51%.

In related news, VP David J. Danforth sold 848 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $71.66, for a total transaction of $60,767.68. Following the completion of the sale, the vice president now owns 4,958 shares in the company, valued at $355,290.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.32% of the company’s stock.

PCAR has been the subject of a number of analyst reports. ValuEngine cut PACCAR from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. BidaskClub upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. OTR Global cut PACCAR from a “mixed” rating to a “negative” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on PACCAR from $70.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, Credit Suisse Group upped their price target on PACCAR from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $68.89.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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