PACCAR Inc (NASDAQ:PCAR) Stock Holdings Reduced by Forum Financial Management LP

Forum Financial Management LP lowered its position in PACCAR Inc (NASDAQ:PCAR) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,861 shares of the company’s stock after selling 554 shares during the quarter. Forum Financial Management LP’s holdings in PACCAR were worth $1,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC grew its stake in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after purchasing an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares in the last quarter. FMR LLC grew its stake in PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after purchasing an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp grew its stake in PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock valued at $749,189,000 after purchasing an additional 565,967 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the acquisition, the director now owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PCAR shares. Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered PACCAR from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Royal Bank of Canada lowered their price objective on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Finally, UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $108.00 to $78.00 in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.14.

PACCAR Stock Performance

PCAR opened at $93.24 on Friday. The firm has a market capitalization of $48.95 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock’s 50 day moving average price is $92.82 and its two-hundred day moving average price is $103.43. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $84.65 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same period last year, the business earned $2.27 EPS. On average, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

PACCAR 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.