Russell Investments Group Ltd. Cuts Stake in PACCAR Inc. (PCAR)

Russell Investments Group Ltd. decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 35.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 340,189 shares of the company’s stock after selling 186,395 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of PACCAR worth $24,606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in PACCAR by 91.1% during the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after acquiring an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after acquiring an additional 300 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in PACCAR by 29.9% during the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares in the last quarter. Sun Life Financial INC boosted its stake in PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Institute for Wealth Management LLC. bought a new stake in PACCAR during the second quarter worth about $201,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Inc. (PCAR) opened at $66.94 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. The stock has a market cap of $23,863.79, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.24. PACCAR Inc. has a twelve month low of $58.78 and a twelve month high of $75.68.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. sell-side analysts predict that PACCAR Inc. will post 4.18 EPS for the current fiscal year.

The company 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. The ex-dividend date is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.49%. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.

In other news, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the transaction, the vice president now directly owns 24,319 shares of the company’s stock, valued at $1,726,649. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction that occurred 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. Insiders sold 106,598 shares of company stock valued at $7,597,908 over the last ninety days. Corporate insiders own 2.64% of the company’s stock.

Several equities research analysts recently commented on PCAR shares. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, September 5th. Buckingham Research started coverage on shares of PACCAR in a research note on Tuesday, September 5th. They set a “neutral” rating and a $65.00 price objective on the stock. ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Royal Bank Of Canada reissued a “buy” rating on shares of PACCAR in a research note on Friday, September 1st. Finally, Deutsche Bank AG reissued a “hold” rating and set a $78.00 price objective (up previously from $75.00) on shares of PACCAR in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. PACCAR has an average rating of “Hold” and a consensus target price of $75.95.

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About PACCAR

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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