PACCAR Inc. $PCAR Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. lowered its holdings in PACCAR Inc. (NASDAQ:PCAR) by 16.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,048,314 shares of the company’s stock after selling 205,288 shares during the quarter. Epoch Investment Partners Inc. owned about 0.20% of PACCAR worth $121,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PCAR. Vanguard Group Inc. lifted its stake in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares during the last quarter. Wellington Management Group LLP increased its stake in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after purchasing an additional 3,597,283 shares during the last quarter. State Street Corp increased its stake in PACCAR by 0.4% in the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock valued at $2,494,269,000 after purchasing an additional 94,869 shares during the last quarter. Geode Capital Management LLC raised its holdings in PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Finally, Norges Bank acquired a new stake in PACCAR during the fourth quarter worth approximately $727,745,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $132.24 on Friday. The stock has a market cap of $69.60 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.20 and a beta of 0.97. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $133.90. The stock has a 50 day moving average of $119.00 and a two-hundred day moving average of $120.24. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, research analysts forecast that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup restated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Finally, Morgan Stanley raised their price objective on PACCAR from $109.00 to $113.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.18.

About PACCAR

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.