D.A. Davidson & CO. Sells 11,462 Shares of PACCAR Inc. (PCAR)
D.A. Davidson & CO. trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 98,085 shares of the company’s stock after selling 11,462 shares during the period. D.A. Davidson & CO.’s holdings in PACCAR were worth $7,095,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in PACCAR by 6.6% in the 2nd quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock worth $1,684,572,000 after acquiring an additional 1,572,038 shares during the last quarter. Vanguard Group Inc. raised its holdings in PACCAR by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock worth $1,621,636,000 after acquiring an additional 1,164,896 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in PACCAR by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock worth $489,402,000 after acquiring an additional 694,185 shares during the last quarter. Victory Capital Management Inc. raised its holdings in PACCAR by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,806,586 shares of the company’s stock worth $203,028,000 after acquiring an additional 145,932 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in PACCAR by 381.5% in the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after acquiring an additional 2,038,761 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.
In other news, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the sale, the insider now owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP C Michael Dozier sold 3,618 shares of PACCAR stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total transaction of $249,714.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,598 shares of company stock valued at $7,597,908. Insiders own 2.64% of the company’s stock.
PCAR has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of PACCAR from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, October 25th. ValuEngine upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Stifel Nicolaus decreased their price objective on shares of PACCAR from $76.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, October 25th. Robert W. Baird boosted their price objective on shares of PACCAR from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, UBS Group AG restated a “buy” rating and issued a $76.00 price objective (up from $75.00) on shares of PACCAR in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. PACCAR currently has a consensus rating of “Hold” and an average price target of $75.95.
Shares of PACCAR Inc. (NASDAQ:PCAR) traded up $0.18 during mid-day trading on Thursday, hitting $67.87. 1,046,100 shares of the stock were exchanged, compared to its average volume of 1,902,995. PACCAR Inc. has a 12-month low of $58.78 and a 12-month high of $75.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. The company has a market cap of $23,930.00, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.62 and a beta of 1.24.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. sell-side analysts expect that PACCAR Inc. will post 4.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s payout ratio is 25.64%.
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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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