Amalgamated Bank Sells 3,971 Shares of PACCAR Inc. $PCAR

Amalgamated Bank cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,377 shares of the company’s stock after selling 3,971 shares during the quarter. Amalgamated Bank’s holdings in PACCAR were worth $9,637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PCAR. Vanguard Group Inc. increased its position in shares of PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after buying an additional 1,113,520 shares during the period. Wellington Management Group LLP boosted its position in PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after acquiring an additional 987,805 shares during the period. Northern Trust Corp raised its position in shares of PACCAR by 0.5% in the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after acquiring an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PACCAR by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after purchasing an additional 97,197 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $98.82 on Friday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a market capitalization of $51.89 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94. The firm has a 50 day moving average of $98.59 and a 200 day moving average of $95.98. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. As a group, equities research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR’s payout ratio is 25.83%.

Insider Transactions at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $106.59.

PACCAR 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.