Pictet Asset Management Ltd. Decreases Holdings in PACCAR Inc (PCAR)
Pictet Asset Management Ltd. lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 3.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 185,276 shares of the company’s stock after selling 7,500 shares during the quarter. Pictet Asset Management Ltd.’s holdings in PACCAR were worth $12,625,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brandywine Oak Private Wealth LLC grew its stake in shares of PACCAR by 1.8% during the first quarter. Brandywine Oak Private Wealth LLC now owns 8,315 shares of the company’s stock worth $566,000 after buying an additional 148 shares during the last quarter. Securian Asset Management Inc grew its stake in shares of PACCAR by 0.5% in the first quarter. Securian Asset Management Inc now owns 35,455 shares of the company’s stock worth $2,416,000 after purchasing an additional 163 shares during the last quarter. Castle Rock Wealth Management LLC lifted its holdings in PACCAR by 2.2% in the fourth quarter. Castle Rock Wealth Management LLC now owns 8,291 shares of the company’s stock valued at $544,000 after buying an additional 180 shares during the period. Mason Street Advisors LLC lifted its holdings in PACCAR by 0.4% in the first quarter. Mason Street Advisors LLC now owns 49,464 shares of the company’s stock valued at $3,370,000 after buying an additional 199 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its holdings in PACCAR by 0.8% in the first quarter. Crossmark Global Holdings Inc. now owns 30,143 shares of the company’s stock valued at $2,054,000 after buying an additional 227 shares during the period. 63.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ PCAR opened at $66.23 on Tuesday. PACCAR Inc has a 1-year low of $53.43 and a 1-year high of $73.00. The stock has a market cap of $22.80 billion, a PE ratio of 10.61, a P/E/G ratio of 1.17 and a beta of 1.24. The company has a current ratio of 2.49, a quick ratio of 2.32 and a debt-to-equity ratio of 0.74.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.93%. PACCAR’s dividend payout ratio is currently 20.51%.
In other news, VP David J. Danforth sold 4,315 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $70.69, for a total transaction of $305,027.35. Following the transaction, the vice president now owns 7,286 shares in the company, valued at $515,047.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darrin C. Siver sold 5,067 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total transaction of $355,196.70. Following the transaction, the insider now owns 23,193 shares in the company, valued at approximately $1,625,829.30. The disclosure for this sale can be found here. Insiders have sold 22,301 shares of company stock worth $1,554,065 in the last quarter. Company insiders own 2.32% of the company’s stock.
PCAR has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of PACCAR to $70.00 and gave the company a “market perform” rating in a report on Friday, May 17th. Zacks Investment Research lowered shares of PACCAR from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Piper Jaffray Companies boosted their target price on shares of PACCAR to $75.00 and gave the company an “overweight” rating in a report on Tuesday, February 5th. They noted that the move was a valuation call. Robert W. Baird upgraded shares of PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 target price on the stock in a report on Thursday, February 7th. Finally, BidaskClub lowered shares of PACCAR from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $67.44.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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