Cetera Advisor Networks LLC lowered its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,842 shares of the company’s stock after selling 885 shares during the quarter. Cetera Advisor Networks LLC’s holdings in PACCAR were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other institutional investors have also added to or reduced their stakes in PCAR. Cambridge Investment Research Advisors Inc. boosted its holdings in PACCAR by 1.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,557 shares of the company’s stock valued at $900,000 after acquiring an additional 135 shares during the period. Trustcore Financial Services LLC raised its position in PACCAR by 1.8% during the 3rd quarter. Trustcore Financial Services LLC now owns 8,414 shares of the company’s stock valued at $589,000 after purchasing an additional 150 shares in the last quarter. Compagnie Lombard Odier SCmA raised its position in PACCAR by 35.0% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 606 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares in the last quarter. Squar Milner Financial Services LLC raised its position in PACCAR by 7.9% during the 3rd quarter. Squar Milner Financial Services LLC now owns 2,250 shares of the company’s stock valued at $157,000 after purchasing an additional 165 shares in the last quarter. Finally, Creative Planning raised its position in PACCAR by 1.0% during the 3rd quarter. Creative Planning now owns 17,109 shares of the company’s stock valued at $1,198,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 62.07% of the company’s stock.
PCAR opened at $80.44 on Monday. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.67 and a beta of 1.25. The company has a current ratio of 2.39, a quick ratio of 2.23 and a debt-to-equity ratio of 0.67. PACCAR Inc has a 12 month low of $53.43 and a 12 month high of $80.57. The stock has a fifty day moving average price of $74.99 and a 200-day moving average price of $70.30.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.11. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same period in the prior year, the company posted $1.55 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that PACCAR Inc will post 6.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, November 8th. PACCAR’s dividend payout ratio is currently 20.51%.
PCAR has been the subject of a number of research analyst reports. Buckingham Research lifted their target price on PACCAR from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Raymond James initiated coverage on PACCAR in a research report on Wednesday, November 20th. They set a “strong-buy” rating and a $90.00 target price for the company. OTR Global lowered PACCAR from a “mixed” rating to a “negative” rating in a research report on Wednesday, October 9th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $73.05.
In related news, EVP Gary Lee Moore sold 39,695 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $75.81, for a total transaction of $3,009,277.95. Following the transaction, the executive vice president now directly owns 34,553 shares of the company’s stock, valued at approximately $2,619,462.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Darrin C. Siver sold 12,474 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $77.01, for a total value of $960,622.74. Following the sale, the senior vice president now owns 30,600 shares in the company, valued at approximately $2,356,506. The disclosure for this sale can be found here. Insiders have sold a total of 106,949 shares of company stock worth $8,207,798 over the last ninety days. 2.32% of the stock is currently owned by corporate insiders.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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