Laird Norton Wetherby Trust Company LLC Reduces Stock Position in PACCAR Inc (NASDAQ:PCAR)

Laird Norton Wetherby Trust Company LLC cut its stake in PACCAR Inc (NASDAQ:PCAR) by 17.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,817 shares of the company’s stock after selling 4,560 shares during the quarter. Laird Norton Wetherby Trust Company LLC’s holdings in PACCAR were worth $2,335,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted 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 during the last quarter. Czech National Bank lifted its position in PACCAR by 6.5% during the fourth quarter. Czech National Bank now owns 113,679 shares of the company’s stock valued at $11,825,000 after purchasing an additional 6,890 shares during the last quarter. Matrix Trust Co lifted its position in PACCAR by 581.6% during the fourth quarter. Matrix Trust Co now owns 1,663 shares of the company’s stock valued at $173,000 after purchasing an additional 1,419 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of PACCAR by 632.7% during the 4th quarter. Brookstone Capital Management now owns 16,142 shares of the company’s stock worth $1,679,000 after acquiring an additional 13,939 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of PACCAR by 7.8% during the 4th quarter. Wedmont Private Capital now owns 8,417 shares of the company’s stock worth $897,000 after acquiring an additional 606 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PCAR. StockNews.com raised PACCAR from a “sell” rating to a “hold” rating in a research note on Friday. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Citigroup dropped their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada lowered their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $108.00 to $78.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $105.23.

Insider Buying and Selling at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value 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 position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 1.0%

Shares of PACCAR stock opened at $90.61 on Monday. 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 stock has a market cap of $47.57 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96. The firm’s 50-day moving average is $94.45 and its two-hundred day moving average is $104.20. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.27 earnings per share. As a group, research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR’s dividend payout ratio is currently 20.00%.

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.