Schroder Investment Management Group Sells 241,138 Shares of PACCAR Inc. $PCAR

Schroder Investment Management Group decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 74.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,879 shares of the company’s stock after selling 241,138 shares during the period. Schroder Investment Management Group’s holdings in PACCAR were worth $7,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. boosted its stake in shares of PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd lifted its stake in PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after buying an additional 134 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in shares of PACCAR during the second quarter valued at approximately $43,000. Finally, Quarry LP bought a new position in shares of PACCAR during the first quarter valued at approximately $62,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $108.50 on Friday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.19. The business has a 50-day moving average price of $99.12 and a 200 day moving average price of $97.68. The company has a market capitalization of $56.98 billion, a P/E ratio of 21.23, a PEG ratio of 14.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the previous year, the company earned $1.85 earnings per share. The firm’s revenue was down 20.7% on a year-over-year basis. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. PACCAR’s payout ratio is 25.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley set a $90.00 price target on PACCAR in a research note on Tuesday, October 21st. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Wall Street Zen downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.54.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

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.