E Fund Management Co. Ltd. Sells 505 Shares of PACCAR Inc (NASDAQ:PCAR)

E Fund Management Co. Ltd. trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,244 shares of the company’s stock after selling 505 shares during the quarter. E Fund Management Co. Ltd.’s holdings in PACCAR were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in PACCAR by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after purchasing an additional 23,865 shares in the last quarter. Northern Trust Corp increased its holdings in PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after purchasing an additional 316,001 shares in the last quarter. Fisher Asset Management LLC increased its holdings in PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after purchasing an additional 89,984 shares in the last quarter. Invesco Ltd. increased its holdings in PACCAR by 9.9% in the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after purchasing an additional 328,347 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in PACCAR by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after purchasing an additional 54,273 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PCAR has been the subject of a number of research analyst reports. TD Cowen lifted their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. lowered their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective for the company. Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Stock Up 0.4 %

Shares of NASDAQ:PCAR traded up $0.45 during mid-day trading on Wednesday, hitting $107.05. 2,887,766 shares of the company traded hands, compared to its average volume of 2,462,551. The stock has a market cap of $56.11 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.63 and a beta of 0.96. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The stock has a 50-day moving average price of $116.18 and a two-hundred day moving average price of $103.12.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be given a $0.30 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.12%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 11.20%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,920 shares of company stock valued at $4,650,324. Insiders own 2.02% of the company’s stock.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, 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.