PACCAR Inc. $PCAR Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 256,839 shares of the company’s stock after selling 23,446 shares during the quarter. PACCAR accounts for approximately 1.7% of Norris Perne & French LLP MI’s portfolio, making the stock its 19th biggest position. Norris Perne & French LLP MI’s holdings in PACCAR were worth $25,252,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PCAR. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of PACCAR by 77.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after buying an additional 103,664 shares during the period. JT Stratford LLC purchased a new stake in shares of PACCAR during the second quarter worth approximately $1,301,000. Assenagon Asset Management S.A. increased its stake in shares of PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after buying an additional 88,551 shares during the period. Coppell Advisory Solutions LLC raised its holdings in PACCAR by 1,314.8% in the first quarter. Coppell Advisory Solutions LLC now owns 13,200 shares of the company’s stock valued at $1,285,000 after acquiring an additional 12,267 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in PACCAR by 23.0% in the second quarter. Nordea Investment Management AB now owns 100,480 shares of the company’s stock worth $9,534,000 after acquiring an additional 18,767 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of several recent analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $125.00 price objective on shares of PACCAR in a research report on Friday, December 5th. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. UBS Group set a $103.00 price target on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. raised PACCAR from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $108.00 to $133.00 in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.04.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $111.79 on Monday. The stock’s 50-day moving average price is $103.92 and its 200 day moving average price is $99.71. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $58.71 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 15.29 and a beta of 1.01. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $115.43.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 earnings per share. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s payout ratio is currently 25.83%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.