PACCAR Inc (NASDAQ:PCAR) Stake Lessened by Man Group plc

Man Group plc lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.0% in the first quarter, Holdings Channel.com reports. The firm owned 87,872 shares of the company’s stock after selling 1,788 shares during the period. Man Group plc’s holdings in PACCAR were worth $8,165,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of PACCAR by 456.8% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 103,000 shares of the company’s stock valued at $8,887,000 after purchasing an additional 84,500 shares in the last quarter. Creative Planning lifted its holdings in shares of PACCAR by 2.9% in the first quarter. Creative Planning now owns 23,002 shares of the company’s stock valued at $2,137,000 after purchasing an additional 646 shares in the last quarter. Heritage Trust Co lifted its holdings in shares of PACCAR by 3.4% in the first quarter. Heritage Trust Co now owns 21,029 shares of the company’s stock valued at $1,954,000 after purchasing an additional 696 shares in the last quarter. Harvest Volatility Management LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at $401,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of PACCAR by 32.9% in the fourth quarter. Penserra Capital Management LLC now owns 723 shares of the company’s stock valued at $62,000 after purchasing an additional 179 shares in the last quarter. Institutional investors own 63.77% of the company’s stock.

Several analysts recently issued reports on PCAR shares. BMO Capital Markets increased their price objective on PACCAR from $90.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, May 4th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a report on Tuesday, July 13th. Morgan Stanley increased their price objective on PACCAR from $102.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, April 12th. Deutsche Bank Aktiengesellschaft cut their price objective on PACCAR from $95.00 to $93.00 and set a “hold” rating for the company in a report on Wednesday, July 14th. Finally, Credit Suisse Group increased their price objective on PACCAR from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, April 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. PACCAR presently has a consensus rating of “Hold” and a consensus price target of $100.36.

In other news, CEO R Preston Feight sold 4,770 shares of the firm’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $94.06, for a total value of $448,666.20. Following the sale, the chief executive officer now directly owns 52,460 shares of the company’s stock, valued at $4,934,387.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.05% of the company’s stock.

PACCAR stock opened at $88.15 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.64 and a quick ratio of 2.45. The firm has a market capitalization of $30.60 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. PACCAR Inc has a one year low of $80.36 and a one year high of $103.19. The stock’s fifty day simple moving average is $90.08.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 27th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.08. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.45 billion. PACCAR had a return on equity of 13.72% and a net margin of 7.26%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. Equities research analysts forecast that PACCAR Inc will post 5.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 8th. Stockholders of record on Wednesday, August 18th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Tuesday, August 17th. PACCAR’s dividend payout ratio is currently 36.36%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, 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.

Further Reading: Lock-Up Period Expiration

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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