Mediolanum International Funds Ltd Trims Stake in PACCAR Inc. $PCAR

Mediolanum International Funds Ltd lowered its position in PACCAR Inc. (NASDAQ:PCAR) by 72.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,079 shares of the company’s stock after selling 99,711 shares during the period. Mediolanum International Funds Ltd’s holdings in PACCAR were worth $3,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PCAR. Hazlett Burt & Watson Inc. raised its holdings in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares during the period. Fidelis Capital Partners LLC grew its position in PACCAR by 2.9% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares during the last quarter. Intellectus Partners LLC grew its position in PACCAR by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after acquiring an additional 109 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its stake in PACCAR by 1.2% in the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after purchasing an additional 116 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock worth $228,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the business’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 completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 5.5%

NASDAQ PCAR opened at $102.99 on Friday. PACCAR Inc. has a one year low of $84.65 and a one year 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 company has a market capitalization of $54.09 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The company’s 50-day simple moving average is $98.01 and its two-hundred day simple moving average is $96.97.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.PACCAR’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 EPS. Equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on PCAR shares. Jefferies Financial Group restated a “hold” rating and issued a $90.00 price target on shares of PACCAR in a report on Tuesday, October 21st. Wells Fargo & Company began coverage on shares of PACCAR in a research report on Thursday, November 13th. They issued a “positive” rating and a $106.00 price objective for the company. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $106.54.

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.