PACCAR Inc (NASDAQ:PCAR) Position Trimmed by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 15.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,080 shares of the company’s stock after selling 731 shares during the period. Integrated Wealth Concepts LLC’s holdings in PACCAR were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $526,922,000. Wellington Management Group LLP lifted its position in shares of PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of PACCAR during the fourth quarter worth approximately $254,651,000. JPMorgan Chase & Co. grew its position in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after buying an additional 572,231 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCAR. StockNews.com downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Thursday. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI cut their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.23.

PACCAR Trading Up 0.1 %

Shares of PACCAR stock opened at $89.90 on Friday. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81. The firm has a market capitalization of $47.19 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company’s fifty day moving average price is $95.97 and its two-hundred day moving average price is $104.81.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business’s revenue was down 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.27 EPS. On average, analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, May 14th. PACCAR’s dividend payout ratio is 16.69%.

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.