Credit Agricole S A Sells 125,762 Shares of PACCAR Inc. $PCAR

Credit Agricole S A decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 52.6% in the first quarter, Holdings Channel.com reports. The fund owned 113,519 shares of the company’s stock after selling 125,762 shares during the period. Credit Agricole S A’s holdings in PACCAR were worth $11,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCAR. Brighton Jones LLC boosted its position in shares of PACCAR by 0.3% during the fourth 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. NewEdge Advisors LLC boosted its position in shares of PACCAR by 21.1% during the fourth quarter. NewEdge Advisors LLC now owns 18,890 shares of the company’s stock worth $1,965,000 after acquiring an additional 3,296 shares during the last quarter. State of Tennessee Department of Treasury boosted its position in shares of PACCAR by 49.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 142,951 shares of the company’s stock worth $14,870,000 after acquiring an additional 46,980 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of PACCAR by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 791,944 shares of the company’s stock worth $82,379,000 after acquiring an additional 8,757 shares during the last quarter. Finally, MGO One Seven LLC bought a new position in PACCAR during the fourth quarter valued at $247,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an “outperform” rating in a research report on Tuesday. Citigroup increased their price objective on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.68.

Insider Transactions at PACCAR

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

PACCAR Stock Performance

PACCAR stock opened at $98.18 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The firm has a market capitalization of $51.55 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The company’s 50-day moving average is $96.60 and its 200 day moving average is $96.95.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the company posted $2.13 EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR’s dividend payout ratio is 22.60%.

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.