Dimensional Fund Advisors LP Cuts Stock Position in PACCAR Inc. $PCAR

Dimensional Fund Advisors LP trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 11.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,249,830 shares of the company’s stock after selling 704,593 shares during the period. Dimensional Fund Advisors LP’s holdings in PACCAR were worth $516,247,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC lifted its holdings in PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. AlphaQuest LLC purchased a new position in PACCAR in the 3rd quarter valued at about $38,000. Hantz Financial Services Inc. boosted its holdings in PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after buying an additional 134 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in PACCAR by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the last quarter. Finally, Rothschild Investment LLC increased its stake in PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after buying an additional 454 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This represents a 66.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $117,760.23. This represents a 70.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 133,105 shares of company stock worth $16,869,046. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR stock opened at $124.92 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. The company has a market capitalization of $65.69 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03. The firm’s 50-day moving average is $121.64 and its two-hundred day moving average is $108.28. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter last year, the firm earned $1.66 EPS. The business’s revenue was down 15.1% compared to the same quarter last year. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th were given a $0.33 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is currently 29.27%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PCAR shares. Morgan Stanley set a $109.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Citigroup upped their target price on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus price target of $116.50.

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.