PACCAR Inc (NASDAQ:PCAR) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,879,651 shares of the company’s stock after selling 613,898 shares during the quarter. Geode Capital Management LLC owned 2.27% of PACCAR worth $1,171,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Insight Inv LLC increased its position in shares of PACCAR by 1.1% during the third quarter. Insight Inv LLC now owns 15,552 shares of the company’s stock valued at $1,535,000 after acquiring an additional 175 shares during the last quarter. LRI Investments LLC boosted its position in shares of PACCAR by 286.8% during the 3rd quarter. LRI Investments LLC now owns 2,023 shares of the company’s stock worth $200,000 after purchasing an additional 1,500 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of PACCAR by 2.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 278,304 shares of the company’s stock worth $27,463,000 after purchasing an additional 7,189 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in PACCAR by 8.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 175,826 shares of the company’s stock valued at $17,351,000 after purchasing an additional 13,716 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in PACCAR by 30.2% in the third quarter. Orion Portfolio Solutions LLC now owns 71,443 shares of the company’s stock valued at $7,050,000 after purchasing an additional 16,571 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.5 %

Shares of NASDAQ:PCAR opened at $115.37 on Wednesday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company’s 50 day moving average is $109.82 and its two-hundred day moving average is $103.70. The company has a market cap of $60.49 billion, a PE ratio of 12.89, a P/E/G ratio of 1.82 and a beta of 0.91. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

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

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were paid a $0.30 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.04%. PACCAR’s dividend payout ratio is currently 13.41%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PCAR. Citigroup raised their price target on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. lowered their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley lowered their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $118.25.

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.