PACCAR Inc. (NASDAQ:PCAR) Shares Sold by Commerce Bank

Commerce Bank trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 0.6% during the first quarter, HoldingsChannel.com reports. The fund owned 26,295 shares of the company’s stock after selling 164 shares during the period. Commerce Bank’s holdings in PACCAR were worth $2,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PCAR. Brighton Jones LLC grew its holdings in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the last quarter. World Investment Advisors grew its holdings in shares of PACCAR by 5.8% in the 4th quarter. World Investment Advisors now owns 4,490 shares of the company’s stock worth $467,000 after acquiring an additional 246 shares during the last quarter. Aviva PLC grew its holdings in shares of PACCAR by 65.7% in the 4th quarter. Aviva PLC now owns 315,286 shares of the company’s stock worth $32,796,000 after acquiring an additional 124,996 shares during the last quarter. FMR LLC grew its holdings in shares of PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock worth $914,509,000 after acquiring an additional 167,165 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of PACCAR by 9.9% in the 4th quarter. Bank of Montreal Can now owns 622,795 shares of the company’s stock worth $64,783,000 after acquiring an additional 55,962 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $96.34 on Tuesday. The company has a market cap of $50.57 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 3.85 and a beta of 0.91. The stock has a 50-day moving average of $95.47 and a 200-day moving average of $97.76. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio is 22.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PCAR. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Vertical Research upgraded PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. UBS Group upgraded PACCAR from a “sell” rating to a “neutral” rating and lifted their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Evercore ISI lowered their price target on PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their price target on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and an average price target of $107.77.

About PACCAR

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.