Prudential Financial Inc. decreased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 15.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 647,967 shares of the company’s stock after selling 116,808 shares during the period. Prudential Financial Inc. owned about 0.18% of PACCAR worth $46,874,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Koch Industries Inc. bought a new stake in PACCAR in the second quarter valued at approximately $213,000. Principal Financial Group Inc. raised its stake in PACCAR by 381.5% in the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after buying an additional 2,038,761 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in PACCAR in the second quarter valued at approximately $3,038,000. BlueMountain Capital Management LLC bought a new stake in PACCAR in the second quarter valued at approximately $2,771,000. Finally, Brighton Jones LLC bought a new stake in PACCAR in the second quarter valued at approximately $3,338,000. Hedge funds and other institutional investors own 62.38% of the company’s stock.
Shares of PACCAR Inc. (PCAR) opened at $69.59 on Friday. The stock has a market capitalization of $24,468.54, a P/E ratio of 17.84, a P/E/G ratio of 1.66 and a beta of 1.24. PACCAR Inc. has a 12-month low of $58.38 and a 12-month high of $75.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.56.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. analysts forecast that PACCAR Inc. will post 4.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, November 13th. PACCAR’s dividend payout ratio is presently 25.64%.
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Several analysts have issued reports on the company. UBS AG restated a “buy” rating and issued a $76.00 price objective (up previously from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Citigroup Inc. upped their price objective on PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, August 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $72.00 target price (up previously from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $75.95.
In other PACCAR news, VP Alma Lily Ley sold 4,024 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the sale, the vice president now owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total value of $7,062,489.72. Following the completion of the sale, the insider now directly owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. Company insiders own 2.64% of the company’s stock.
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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