Bank of Montreal Can Trims Stock Holdings in PACCAR Inc. $PCAR

Bank of Montreal Can lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 24.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 360,918 shares of the company’s stock after selling 119,891 shares during the quarter. Bank of Montreal Can’s holdings in PACCAR were worth $34,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares in the last quarter. Mutual Advisors LLC raised its position in shares of PACCAR by 10.8% during the 1st quarter. Mutual Advisors LLC now owns 2,513 shares of the company’s stock valued at $231,000 after purchasing an additional 244 shares during the period. World Investment Advisors lifted its stake in shares of PACCAR by 33.6% during the 1st quarter. World Investment Advisors now owns 6,000 shares of the company’s stock valued at $584,000 after buying an additional 1,510 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of PACCAR by 0.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 551,907 shares of the company’s stock valued at $53,739,000 after buying an additional 2,115 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in PACCAR by 0.4% in the 1st quarter. Brown Advisory Inc. now owns 43,923 shares of the company’s stock worth $4,277,000 after buying an additional 179 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent analyst reports. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, July 28th. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, UBS Group set a $103.00 price objective on shares of PACCAR and gave the company a “neutral” rating in a research 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.59.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $98.28 on Friday. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 4.11 and a beta of 0.95. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock’s 50 day simple moving average is $98.34 and its two-hundred day simple moving average is $96.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51.

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

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

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.