PACCAR Inc (NASDAQ:PCAR) Stock Holdings Cut by AQR Capital Management LLC

AQR Capital Management LLC reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 47.3% in the second quarter, HoldingsChannel.com reports. The firm owned 454,911 shares of the company’s stock after selling 407,659 shares during the period. AQR Capital Management LLC’s holdings in PACCAR were worth $33,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado boosted its position in shares of PACCAR by 1.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 64,524 shares of the company’s stock worth $3,944,000 after buying an additional 1,224 shares during the period. AE Wealth Management LLC raised its holdings in PACCAR by 8.5% during the first quarter. AE Wealth Management LLC now owns 18,147 shares of the company’s stock valued at $1,109,000 after buying an additional 1,414 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in PACCAR by 6.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 24,139 shares of the company’s stock valued at $1,476,000 after buying an additional 1,425 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in PACCAR by 10.7% during the first quarter. Oppenheimer & Co. Inc. now owns 7,635 shares of the company’s stock valued at $467,000 after buying an additional 736 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in PACCAR by 2.5% during the first quarter. Cetera Advisor Networks LLC now owns 14,362 shares of the company’s stock valued at $878,000 after buying an additional 350 shares in the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

In other PACCAR news, SVP C Michael Dozier sold 12,158 shares of PACCAR stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $85.40, for a total transaction of $1,038,293.20. Following the sale, the senior vice president now directly owns 9,923 shares of the company’s stock, valued at $847,424.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 7,416 shares of PACCAR stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $85.90, for a total value of $637,034.40. Following the sale, the vice president now directly owns 9,430 shares in the company, valued at $810,037. The disclosure for this sale can be found here. Insiders have sold 26,888 shares of company stock worth $2,300,018 over the last ninety days. Company insiders own 2.18% of the company’s stock.

PCAR stock traded up $1.16 during trading on Wednesday, reaching $86.93. 6,151 shares of the stock were exchanged, compared to its average volume of 2,022,581. PACCAR Inc has a twelve month low of $49.11 and a twelve month high of $91.30. The company has a market capitalization of $29.69 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 2.52 and a beta of 1.11. The stock has a 50 day simple moving average of $86.67 and a 200-day simple moving average of $73.95. The company has a current ratio of 2.48, a quick ratio of 2.32 and a debt-to-equity ratio of 0.76.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 21st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.88 billion. PACCAR had a return on equity of 16.85% and a net margin of 7.95%. The firm’s revenue for the quarter was down 56.9% compared to the same quarter last year. During the same period last year, the business earned $1.78 earnings per share. Equities analysts predict that PACCAR Inc will post 3.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, November 9th. PACCAR’s payout ratio is 18.63%.

Several equities analysts have weighed in on PCAR shares. Deutsche Bank raised their target price on PACCAR from $95.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Wells Fargo & Company raised their target price on PACCAR from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on PACCAR from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Raymond James raised their price target on PACCAR from $95.00 to $100.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 3rd. Finally, Credit Suisse Group raised their price target on PACCAR from $72.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $85.57.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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