KBC Group NV Lowers Holdings in PACCAR Inc. $PCAR

KBC Group NV trimmed its position in PACCAR Inc. (NASDAQ:PCAR) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 482,693 shares of the company’s stock after selling 36,507 shares during the period. KBC Group NV owned 0.09% of PACCAR worth $45,885,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PCAR. Hazlett Burt & Watson Inc. raised its position in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Bayforest Capital Ltd increased its stake in PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Accent Capital Management LLC purchased a new stake in shares of PACCAR in the 1st quarter valued at about $40,000. Hantz Financial Services Inc. boosted its position in shares of PACCAR by 43.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new stake in shares of PACCAR during the 2nd quarter valued at about $43,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PCAR shares. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $90.00 target price on PACCAR in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.59.

PACCAR Trading Up 0.5%

Shares of PCAR stock opened at $98.47 on Thursday. The business has a 50-day moving average of $98.32 and a 200 day moving average of $96.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The stock has a market capitalization of $51.72 billion, a PE ratio of 19.27, a P/E/G ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 EPS. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR’s dividend payout ratio is presently 25.83%.

Insider Transactions at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.02% of the stock is currently owned by company insiders.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.