D.B. Root & Company LLC Trims Stock Position in PACCAR Inc (NASDAQ:PCAR)

D.B. Root & Company LLC trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 9.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,542 shares of the company’s stock after selling 276 shares during the period. D.B. Root & Company LLC’s holdings in PACCAR were worth $262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of PACCAR in the 4th quarter worth approximately $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 in the last quarter. TD Asset Management Inc boosted its position in shares of PACCAR by 112.2% during the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after buying an additional 1,095,894 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of PACCAR in the fourth quarter valued at $87,441,000. Finally, Epoch Investment Partners Inc. raised its holdings in shares of PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after buying an additional 562,571 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group raised their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Citigroup reduced their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and an average target price of $112.91.

PACCAR Trading Down 0.7 %

PCAR opened at $92.17 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a market cap of $48.32 billion, a P/E ratio of 9.56, a PEG ratio of 1.42 and a beta of 0.92. The business’s 50-day simple moving average is $102.52 and its 200-day simple moving average is $108.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.30 billion. During the same period in the previous year, the business posted $2.33 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities research analysts expect that PACCAR Inc will post 8.11 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.30%. PACCAR’s dividend payout ratio is presently 12.45%.

PACCAR 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.