Commonwealth Equity Services LLC Reduces Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

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Commonwealth Equity Services LLC decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,626 shares of the company’s stock after selling 146 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PACCAR were worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its holdings in PACCAR by 2.2% in the first quarter. BlackRock Inc. now owns 25,851,876 shares of the company’s stock worth $1,761,547,000 after purchasing an additional 554,802 shares in the last quarter. Geode Capital Management LLC raised its holdings in PACCAR by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after purchasing an additional 350,337 shares in the last quarter. Northern Trust Corp raised its holdings in PACCAR by 3.3% in the first quarter. Northern Trust Corp now owns 4,137,807 shares of the company’s stock worth $281,949,000 after purchasing an additional 132,159 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in PACCAR by 16.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,084,158 shares of the company’s stock worth $176,244,000 after purchasing an additional 430,705 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in PACCAR by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,481,658 shares of the company’s stock worth $100,960,000 after purchasing an additional 10,190 shares in the last quarter. 63.32% of the stock is owned by institutional investors.

In related news, VP C Michael Dozier sold 12,638 shares of PACCAR stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $69.17, for a total value of $874,170.46. Following the completion of the sale, the vice president now directly owns 8,401 shares in the company, valued at approximately $581,097.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David J. Danforth sold 848 shares of PACCAR stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $71.66, for a total value of $60,767.68. Following the completion of the sale, the vice president now owns 4,958 shares of the company’s stock, valued at $355,290.28. The disclosure for this sale can be found here. Insiders have sold 18,834 shares of company stock valued at $1,309,805 over the last 90 days. Corporate insiders own 2.32% of the company’s stock.

A number of equities analysts have issued reports on the company. Credit Suisse Group increased their price objective on PACCAR from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Longbow Research downgraded PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price objective for the company. in a report on Monday, May 6th. Loop Capital downgraded PACCAR from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. upgraded PACCAR from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $87.00 to $66.00 in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $68.89.

Shares of NASDAQ:PCAR opened at $64.43 on Tuesday. PACCAR Inc has a 1-year low of $53.43 and a 1-year high of $73.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.40. The firm’s fifty day moving average is $70.57. The company has a market capitalization of $23.29 billion, a P/E ratio of 10.33, a PEG ratio of 1.18 and a beta of 1.25.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.04). PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. PACCAR’s revenue was up 14.6% compared to the same quarter last year. On average, analysts expect that PACCAR Inc will post 6.77 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. PACCAR’s payout ratio is presently 20.51%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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