PACCAR Inc (PCAR) Shares Sold by Swiss National Bank
Swiss National Bank decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,123,105 shares of the company’s stock after selling 40,200 shares during the period. Swiss National Bank owned 0.32% of PACCAR worth $76,585,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Flinton Capital Management LLC increased its position in PACCAR by 30.6% during the second quarter. Flinton Capital Management LLC now owns 56,976 shares of the company’s stock worth $3,530,000 after purchasing an additional 13,360 shares during the last quarter. Standard Life Aberdeen plc increased its position in shares of PACCAR by 17.9% in the second quarter. Standard Life Aberdeen plc now owns 127,423 shares of the company’s stock worth $7,896,000 after acquiring an additional 19,376 shares in the last quarter. Garde Capital Inc. increased its position in shares of PACCAR by 6.0% in the second quarter. Garde Capital Inc. now owns 13,275 shares of the company’s stock worth $823,000 after acquiring an additional 750 shares in the last quarter. Royal London Asset Management Ltd. acquired a new stake in shares of PACCAR in the second quarter worth $9,769,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of PACCAR by 142.4% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 134,462 shares of the company’s stock worth $9,237,000 after acquiring an additional 78,992 shares in the last quarter. 61.26% of the stock is owned by hedge funds and other institutional investors.
In other PACCAR news, insider Mark C. Pigott sold 194,004 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total transaction of $11,415,195.36. Following the transaction, the insider now directly owns 3,080,449 shares in the company, valued at approximately $181,253,619.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Douglas S. Grandstaff sold 607 shares of the stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $59.67, for a total transaction of $36,219.69. Following the transaction, the vice president now owns 5,284 shares in the company, valued at $315,296.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,262 shares of company stock valued at $11,490,110. Company insiders own 2.64% of the company’s stock.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.04. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.50 billion. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Equities analysts forecast that PACCAR Inc will post 6.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Friday, November 9th. PACCAR’s payout ratio is 26.29%.
Several equities research analysts have recently issued reports on PCAR shares. Zacks Investment Research lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Citigroup increased their price objective on shares of PACCAR from $65.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Morgan Stanley set a $64.00 price objective on shares of PACCAR and gave the stock a “sell” rating in a research report on Wednesday, July 25th. Robert W. Baird increased their price objective on shares of PACCAR from $56.00 to $59.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 25th. Finally, Credit Suisse Group dropped their price objective on shares of PACCAR from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, July 25th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $68.87.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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