Pitcairn Co. Has $381,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Pitcairn Co. lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 22.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,861 shares of the company’s stock after selling 1,113 shares during the period. Pitcairn Co.’s holdings in PACCAR were worth $381,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new stake in shares of PACCAR during the second quarter worth about $26,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR during the first quarter valued at $27,000. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR in the second quarter worth $36,000. Finally, Fortitude Family Office LLC raised its position in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PCAR. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup boosted their price target on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.64.

PACCAR Stock Performance

Shares of PCAR opened at $115.82 on Wednesday. The stock has a 50-day moving average of $106.55 and a 200-day moving average of $103.09. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a market cap of $60.72 billion, a PE ratio of 12.94, a P/E/G ratio of 1.80 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities research analysts predict that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 over the last three months. 2.02% of the stock is currently owned by insiders.

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.