Toronto Dominion Bank Sells 130,902 Shares of PACCAR Inc (NASDAQ:PCAR)

Toronto Dominion Bank trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 30.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 302,743 shares of the company’s stock after selling 130,902 shares during the period. Toronto Dominion Bank’s holdings in PACCAR were worth $37,507,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of PACCAR during the 4th quarter valued at $448,288,000. Capital International Investors lifted its stake in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after purchasing an additional 1,095,894 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of PACCAR during the 4th quarter valued at about $87,441,000. Finally, Epoch Investment Partners Inc. lifted its position in PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after buying an additional 562,571 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PCAR. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday. Raymond James assumed coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Citigroup began coverage on PACCAR in a report on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.25.

PACCAR Trading Up 1.7 %

NASDAQ:PCAR traded up $1.64 during trading hours on Friday, hitting $99.24. The company had a trading volume of 3,091,675 shares, compared to its average volume of 2,635,081. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.81 and a quick ratio of 2.49. The stock has a 50-day moving average price of $105.33 and a 200 day moving average price of $108.52. The company has a market capitalization of $52.02 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter last year, the business earned $2.33 earnings per share. The business’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities research analysts predict that PACCAR Inc will post 8.22 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is currently 12.45%.

Insiders Place Their Bets

In other news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is currently owned by company insiders.

PACCAR Company Profile

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.