PACCAR Inc. $PCAR Stock: Vest Financial LLC Lowers Stake

Vest Financial LLC lowered its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 45.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,250 shares of the company’s stock after selling 129,800 shares during the quarter. Vest Financial LLC’s holdings in PACCAR were worth $17,268,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of PACCAR in the 2nd quarter valued at approximately $4,927,720,000. Bank of America Corp DE acquired a new stake in PACCAR during the 2nd quarter worth approximately $1,130,496,000. Bank of New York Mellon Corp acquired a new stake in PACCAR during the 2nd quarter worth approximately $453,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in PACCAR by 9.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,424,315 shares of the company’s stock worth $411,329,000 after buying an additional 305,215 shares during the period. Finally, Amundi lifted its stake in PACCAR by 108.7% in the second quarter. Amundi now owns 3,197,359 shares of the company’s stock valued at $384,066,000 after buying an additional 1,665,545 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PCAR. BNP Paribas Exane reduced their price target on shares of PACCAR from $136.00 to $107.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Royal Bank Of Canada raised shares of PACCAR from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $130.00 to $150.00 in a research report on Thursday, September 10th. Wells Fargo & Company set a $122.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a report on Thursday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Finally, Morgan Stanley set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, September 4th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average target price of $133.88.

PACCAR Stock Down 0.6%

Shares of PCAR stock opened at $109.59 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 1 year low of $93.86 and a 1 year high of $139.24. The firm’s fifty day moving average price is $117.80 and its two-hundred day moving average price is $120.30. The firm has a market capitalization of $57.68 billion, a P/E ratio of 23.02, a PEG ratio of 1.26 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the firm posted $1.37 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts predict that PACCAR Inc. will post 5.91 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 11th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s payout ratio is currently 29.41%.

Insider Buying and Selling

In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last three months. Insiders own 1.99% of the company’s stock.

PACCAR Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.