Carnegie Capital Asset Management LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR – Get Rating) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,761 shares of the company’s stock after selling 955 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in PACCAR were worth $960,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Keybank National Association OH lifted its position in PACCAR by 0.9% during the 1st quarter. Keybank National Association OH now owns 13,862 shares of the company’s stock worth $1,221,000 after buying an additional 119 shares in the last quarter. Waldron Private Wealth LLC raised its holdings in PACCAR by 4.8% during the first quarter. Waldron Private Wealth LLC now owns 2,619 shares of the company’s stock worth $230,000 after acquiring an additional 119 shares in the last quarter. Penserra Capital Management LLC boosted its position in PACCAR by 8.2% during the first quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock valued at $145,000 after purchasing an additional 125 shares during the last quarter. Dupont Capital Management Corp grew its stake in PACCAR by 1.4% in the first quarter. Dupont Capital Management Corp now owns 9,809 shares of the company’s stock valued at $864,000 after purchasing an additional 133 shares in the last quarter. Finally, McIlrath & Eck LLC increased its position in shares of PACCAR by 1.0% during the 1st quarter. McIlrath & Eck LLC now owns 13,675 shares of the company’s stock worth $1,204,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.
Insider Buying and Selling at PACCAR
In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $91.50, for a total transaction of $183,000.00. Following the sale, the vice president now directly owns 2,119 shares of the company’s stock, valued at approximately $193,888.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.05% of the company’s stock.
PACCAR Stock Down 0.7 %
PACCAR (NASDAQ:PCAR – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.26. PACCAR had a net margin of 8.68% and a return on equity of 18.64%. The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s revenue was up 26.0% on a year-over-year basis. On average, equities analysts expect that PACCAR Inc will post 7.73 EPS for the current year.
PACCAR Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Monday, November 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.34. PACCAR’s dividend payout ratio (DPR) is 21.45%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on PCAR. Credit Suisse Group increased their price objective on PACCAR from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Morgan Stanley boosted their price objective on shares of PACCAR from $75.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 27th. Vertical Research downgraded shares of PACCAR from a “buy” rating to a “hold” rating and raised their target price for the company from $100.00 to $102.00 in a research note on Wednesday, August 17th. Deutsche Bank Aktiengesellschaft boosted their price target on PACCAR from $94.00 to $97.00 in a research report on Wednesday, July 27th. Finally, Cowen cut their price objective on PACCAR from $100.00 to $92.00 in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.21.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.
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