Amalgamated Bank Sells 3,971 Shares of PACCAR Inc. $PCAR

Amalgamated Bank lowered its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,377 shares of the company’s stock after selling 3,971 shares during the quarter. Amalgamated Bank’s holdings in PACCAR were worth $9,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FORA Capital LLC purchased a new position in shares of PACCAR during the 1st quarter worth $597,000. China Universal Asset Management Co. Ltd. raised its holdings in PACCAR by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after purchasing an additional 4,429 shares during the period. Stack Financial Management Inc purchased a new position in PACCAR during the first quarter valued at $20,585,000. Assenagon Asset Management S.A. grew its holdings in PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after purchasing an additional 88,551 shares during the period. Finally, DAVENPORT & Co LLC purchased a new stake in PACCAR in the first quarter worth about $246,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $98.82 on Friday. The company has a market cap of $51.89 billion, a P/E ratio of 19.34, a P/E/G ratio of 4.11 and a beta of 0.94. 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 1.51 and a current ratio of 1.82. The firm’s fifty day moving average is $98.59 and its two-hundred day moving average is $95.98.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the company earned $1.85 EPS. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. As a group, analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is currently 25.83%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCAR shares. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. UBS Group set a $103.00 price target on shares of PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Hold” and an average price target of $106.59.

PACCAR Company 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.