TD Asset Management Inc Trims Holdings in PACCAR Inc. $PCAR

TD Asset Management Inc decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,901,312 shares of the company’s stock after selling 143,575 shares during the quarter. TD Asset Management Inc’s holdings in PACCAR were worth $180,739,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PCAR. Brighton Jones LLC lifted its position 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 in the last quarter. GAMMA Investing LLC raised its position in PACCAR by 11.1% in the first quarter. GAMMA Investing LLC now owns 9,028 shares of the company’s stock valued at $879,000 after purchasing an additional 901 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in PACCAR by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 388,557 shares of the company’s stock valued at $37,834,000 after purchasing an additional 4,519 shares during the period. Ritholtz Wealth Management raised its position in PACCAR by 6.9% in the first quarter. Ritholtz Wealth Management now owns 8,072 shares of the company’s stock valued at $786,000 after purchasing an additional 524 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in PACCAR by 27.2% in the first quarter. Exchange Traded Concepts LLC now owns 1,725 shares of the company’s stock valued at $168,000 after purchasing an additional 369 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $95.11 on Wednesday. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $49.94 billion, a PE ratio of 16.29, a P/E/G ratio of 3.80 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The business’s fifty day moving average price is $98.60 and its 200 day moving average price is $95.48.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The firm had revenue of $6.96 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio is 22.60%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PCAR shares. Vertical Research upgraded PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, July 28th. Truist Financial set a $97.00 target price on PACCAR and gave the company a “hold” rating in a research report on Wednesday, October 8th. Evercore ISI set a $114.00 target price on PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Finally, Zacks Research downgraded PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.14.

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.