PACCAR Inc. $PCAR Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 86,998 shares of the company’s stock after selling 11,904 shares during the quarter. IFM Investors Pty Ltd’s holdings in PACCAR were worth $8,743,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FORA Capital LLC purchased a new position in shares of PACCAR in the first quarter valued at $597,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in PACCAR by 77.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after buying an additional 103,664 shares in the last quarter. JT Stratford LLC purchased a new position in PACCAR in the 2nd quarter valued at about $1,301,000. Assenagon Asset Management S.A. grew its stake in shares of PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after acquiring an additional 88,551 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of PACCAR by 177.9% during the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after acquiring an additional 1,677,736 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR stock opened at $111.53 on Friday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $115.43. The stock has a market capitalization of $58.57 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 15.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The stock’s fifty day moving average is $103.57 and its two-hundred day moving average is $99.51.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm 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 revenue was down 20.7% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PCAR shares. JPMorgan Chase & Co. raised PACCAR from a “neutral” rating to an “overweight” rating and increased their price target for the company from $108.00 to $133.00 in a report on Friday, December 19th. UBS Group set a $103.00 target price on PACCAR and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Citigroup reiterated a “neutral” rating and set a $115.00 price objective (up from $105.00) on shares of PACCAR in a research note on Thursday, December 11th. Finally, Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.04.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.