Massachusetts Financial Services Co. MA Sells 211,783 Shares of PACCAR Inc. $PCAR

Massachusetts Financial Services Co. MA trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,543,156 shares of the company’s stock after selling 211,783 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PACCAR were worth $1,097,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Donoghue Forlines LLC boosted its stake in PACCAR by 10.4% during the second quarter. Donoghue Forlines LLC now owns 15,692 shares of the company’s stock worth $1,492,000 after buying an additional 1,472 shares during the period. Clearstead Trust LLC boosted its stake in shares of PACCAR by 738.2% during the 2nd quarter. Clearstead Trust LLC now owns 922 shares of the company’s stock worth $88,000 after purchasing an additional 812 shares during the period. ABN Amro Investment Solutions bought a new position in PACCAR during the 2nd quarter valued at about $964,000. Police & Firemen s Retirement System of New Jersey raised its position in PACCAR by 4.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 78,513 shares of the company’s stock worth $7,463,000 after purchasing an additional 3,345 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of PACCAR by 1.3% during the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock valued at $1,184,112,000 after buying an additional 159,632 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.0%

Shares of PCAR stock opened at $95.59 on Friday. The stock’s 50-day simple moving average is $98.22 and its 200-day simple moving average is $96.64. The firm has a market capitalization of $50.20 billion, a PE ratio of 18.71, a P/E/G ratio of 4.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the business earned $1.85 EPS. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. Equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s payout ratio is presently 25.83%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, July 28th. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $90.00 price objective on PACCAR in a report on Tuesday, October 21st. UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus target price of $106.54.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.02% of the stock is currently owned by company insiders.

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.