First Trust Advisors LP decreased its position in PACCAR Inc (NASDAQ:PCAR) by 62.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 437,806 shares of the company’s stock after selling 731,972 shares during the quarter. First Trust Advisors LP owned approximately 0.13% of PACCAR worth $30,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its position in shares of PACCAR by 5.8% during the third quarter. Daiwa Securities Group Inc. now owns 14,564 shares of the company’s stock valued at $1,020,000 after buying an additional 800 shares during the last quarter. Symmetry Partners LLC purchased a new stake in shares of PACCAR during the third quarter valued at $385,000. Keybank National Association OH boosted its position in shares of PACCAR by 2.0% during the third quarter. Keybank National Association OH now owns 11,278 shares of the company’s stock valued at $789,000 after buying an additional 219 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of PACCAR during the third quarter valued at $2,306,000. Finally, Creative Planning boosted its position in shares of PACCAR by 1.0% during the third quarter. Creative Planning now owns 17,109 shares of the company’s stock valued at $1,198,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 63.34% of the company’s stock.

Shares of NASDAQ:PCAR opened at $79.14 on Thursday. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.23 and a current ratio of 2.39. The stock’s 50-day simple moving average is $72.93 and its two-hundred day simple moving average is $69.90. PACCAR Inc has a 52-week low of $53.43 and a 52-week high of $80.57.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.97 billion. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $1.55 earnings per share. As a group, equities analysts forecast that PACCAR Inc will post 6.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.28 annualized dividend and a yield of 1.62%. PACCAR’s payout ratio is 20.51%.

In other news, EVP Gary Lee Moore sold 39,695 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $75.81, for a total value of $3,009,277.95. Following the transaction, the executive vice president now owns 34,553 shares of the company’s stock, valued at $2,619,462.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Darrin C. Siver sold 12,474 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $77.01, for a total value of $960,622.74. Following the completion of the transaction, the senior vice president now directly owns 30,600 shares in the company, valued at approximately $2,356,506. The disclosure for this sale can be found here. Insiders sold 106,949 shares of company stock worth $8,207,798 over the last three months. Insiders own 2.32% of the company’s stock.

Several equities research analysts recently commented on PCAR shares. OTR Global cut PACCAR from a “mixed” rating to a “negative” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $70.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Credit Suisse Group increased their price objective on PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $71.64.

About PACCAR

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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