Castleark Management LLC reduced its holdings in PACCAR Inc. (NASDAQ:PCAR) by 15.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,850 shares of the company’s stock after selling 700 shares during the quarter. Castleark Management LLC’s holdings in PACCAR were worth $254,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of PCAR. IFP Advisors Inc lifted its position in shares of PACCAR by 91.1% in the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after buying an additional 890 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in shares of PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of PACCAR by 29.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Perkins Coie Trust Co lifted its position in shares of PACCAR by 102.8% in the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares during the last quarter. Finally, Sun Life Financial INC lifted its position in shares of PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after buying an additional 2,585 shares during the last quarter. Institutional investors own 62.13% of the company’s stock.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.38%. PACCAR’s dividend payout ratio is currently 26.74%.

In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the transaction, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.64% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on PCAR. BidaskClub downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. ValuEngine downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Robert W. Baird restated a “hold” rating and issued a $80.00 price target on shares of PACCAR in a research report on Thursday, October 12th. Citigroup Inc. raised their price target on shares of PACCAR from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $75.42.

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PACCAR Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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