PACCAR Inc. $PCAR Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 4.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,814,249 shares of the company’s stock after selling 87,063 shares during the quarter. TD Asset Management Inc’s holdings in PACCAR were worth $178,377,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Fidelis Capital Partners LLC grew its stake in shares of PACCAR by 2.9% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock worth $366,000 after purchasing an additional 105 shares during the period. Foundations Investment Advisors LLC boosted its holdings in PACCAR by 3.1% during the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock worth $358,000 after buying an additional 108 shares in the last quarter. Intellectus Partners LLC grew its position in PACCAR by 1.0% during the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after buying an additional 109 shares during the period. Matrix Trust Co grew its position in PACCAR by 3.9% during the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after buying an additional 110 shares during the period. Finally, Forbes J M & Co. LLP increased its holdings in PACCAR by 4.3% in the third quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock valued at $262,000 after buying an additional 111 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.3%

Shares of NASDAQ:PCAR opened at $124.58 on Thursday. The company has a market capitalization of $65.52 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.06 and a beta of 1.03. The stock’s fifty day simple moving average is $120.41 and its 200-day simple moving average is $107.40. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 EPS. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is presently 29.27%.

Insider Buying and Selling at PACCAR

In related news, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the sale, the vice president owned 6,274 shares in the company, valued at approximately $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 9,258 shares of PACCAR stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. The trade was a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PCAR shares. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Finally, Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $116.50.

About PACCAR

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.