Barclays PLC decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 4.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 555,228 shares of the company’s stock after selling 27,249 shares during the quarter. Barclays PLC’s holdings in PACCAR were worth $43,819,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of PACCAR by 54.3% in the third quarter. Allworth Financial LP now owns 435 shares of the company’s stock valued at $34,000 after purchasing an additional 153 shares during the period. First Horizon Advisors Inc. lifted its stake in PACCAR by 89.4% in the third quarter. First Horizon Advisors Inc. now owns 517 shares of the company’s stock worth $124,000 after acquiring an additional 244 shares during the last quarter. NEXT Financial Group Inc lifted its stake in PACCAR by 38.8% in the third quarter. NEXT Financial Group Inc now owns 772 shares of the company’s stock worth $61,000 after acquiring an additional 216 shares during the last quarter. Penserra Capital Management LLC lifted its stake in PACCAR by 29.8% in the second quarter. Penserra Capital Management LLC now owns 1,115 shares of the company’s stock worth $99,000 after acquiring an additional 256 shares during the last quarter. Finally, Berman Capital Advisors LLC lifted its stake in PACCAR by 31.7% in the second quarter. Berman Capital Advisors LLC now owns 1,270 shares of the company’s stock worth $113,000 after acquiring an additional 306 shares during the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.
In other PACCAR news, VP Todd R. Hubbard sold 526 shares of the business’s stock in a transaction on Friday, October 29th. The shares were sold at an average price of $90.06, for a total transaction of $47,371.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 14,572 shares of the business’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $90.17, for a total transaction of $1,313,957.24. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by insiders.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 26th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.12). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.56 billion. PACCAR had a net margin of 7.80% and a return on equity of 16.01%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 earnings per share. Analysts anticipate that PACCAR Inc will post 5.17 earnings per share for the current year.
The business also recently announced a None dividend, which was paid on Wednesday, January 5th. Shareholders of record on Friday, December 17th were given a dividend of $1.50 per share. This is a positive change from PACCAR’s previous None dividend of $0.70. The ex-dividend date of this dividend was Thursday, December 16th. PACCAR’s payout ratio is presently 27.15%.
PCAR has been the subject of a number of recent research reports. Raymond James decreased their price target on shares of PACCAR from $115.00 to $105.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 20th. Wolfe Research upgraded shares of PACCAR from a “peer perform” rating to an “outperform” rating and set a $96.00 price target for the company in a research note on Tuesday, October 5th. Morgan Stanley lifted their price target on shares of PACCAR from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 9th. Sanford C. Bernstein upgraded shares of PACCAR from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $94.00 to $98.00 in a research report on Wednesday, December 22nd. Finally, Citigroup boosted their price objective on shares of PACCAR from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 12th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $101.00.
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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