PACCAR Inc. $PCAR Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in PACCAR Inc. (NASDAQ:PCAR) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,150,230 shares of the company’s stock after selling 45,291 shares during the period. Fisher Asset Management LLC owned approximately 0.98% of PACCAR worth $489,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its holdings in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares in the last quarter. Accent Capital Management LLC acquired a new stake in PACCAR in the 1st quarter valued at about $40,000. Hantz Financial Services Inc. increased its holdings in 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 in the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new position in PACCAR during the second quarter worth about $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PCAR. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. UBS Group set a $103.00 price target on PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Evercore ISI set a $114.00 price objective on PACCAR and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Wolfe Research upgraded 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 shares of PACCAR in a report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $106.54.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction that occurred on 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 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $105.42 on Monday. The stock has a fifty day moving average price of $98.33 and a 200 day moving average price of $97.40. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a market capitalization of $55.37 billion, a P/E ratio of 20.63, a PEG ratio of 4.11 and a beta of 0.95. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.85 earnings per share. Equities research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is currently 25.83%.

PACCAR 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.