Foster & Motley Inc. Sells 9,761 Shares of PACCAR Inc. $PCAR

Foster & Motley Inc. cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 13.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,701 shares of the company’s stock after selling 9,761 shares during the quarter. Foster & Motley Inc.’s holdings in PACCAR were worth $7,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth boosted its stake in PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in PACCAR by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares during the last quarter. Ieq Capital LLC grew its position in shares of PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after acquiring an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of PACCAR during the 2nd quarter worth approximately $81,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Up 4.0%

PCAR stock opened at $121.68 on Friday. The stock has a 50-day simple moving average of $117.01 and a two-hundred day simple moving average of $118.40. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The firm has a market capitalization of $64.04 billion, a PE ratio of 25.89, a PEG ratio of 1.09 and a beta of 0.98. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. On average, equities analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is 29.79%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PCAR shares. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Evercore set a $139.00 price target on PACCAR in a research report on Monday, May 11th. Citigroup restated a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. BNP Paribas Exane began coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. Finally, Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $122.00.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.