Conning Inc. Has $352,000 Holdings in PACCAR Inc. $PCAR

Conning Inc. cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,700 shares of the company’s stock after selling 142 shares during the quarter. Conning Inc.’s holdings in PACCAR were worth $352,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock worth $6,133,914,000 after acquiring an additional 1,113,520 shares during the period. Wellington Management Group LLP grew its stake in PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after buying an additional 987,805 shares during the period. Northern Trust Corp grew its position in shares of PACCAR by 0.5% during the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after buying an additional 37,609 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after buying an additional 97,197 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PCAR. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. UBS Group upgraded PACCAR from a “sell” rating to a “neutral” rating and raised their target price for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, July 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of PACCAR in a research note on Wednesday. Finally, Citigroup raised their price objective on PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.59.

PACCAR Price Performance

PCAR stock opened at $93.00 on Friday. The company has a market capitalization of $48.83 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The business has a 50-day simple moving average of $98.73 and a two-hundred day simple moving average of $95.52.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 EPS. Research analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is currently 22.60%.

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.