PACCAR Inc (NASDAQ:PCAR) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 103,899 shares of the company’s stock after selling 793 shares during the period. IFM Investors Pty Ltd’s holdings in PACCAR were worth $10,253,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after buying an additional 171,317 shares during the period. Legal & General Group Plc boosted its position in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after acquiring an additional 242,435 shares during the last quarter. Capital International Investors boosted its position in shares of PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. Principal Financial Group Inc. grew its holdings in PACCAR by 1.5% in the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after purchasing an additional 48,784 shares during the period. Finally, TD Asset Management Inc increased its position in PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after purchasing an additional 504,346 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 1.0 %

NASDAQ PCAR opened at $104.84 on Friday. The company’s fifty day simple moving average is $98.98 and its 200-day simple moving average is $103.41. The stock has a market cap of $54.96 billion, a P/E ratio of 11.71, a PEG ratio of 1.62 and a beta of 0.91. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior year, the company posted $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities research analysts predict that PACCAR Inc will post 8.07 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PCAR. Truist Financial boosted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup increased their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI reduced their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.18.

About PACCAR

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.