PACCAR Inc. $PCAR Position Decreased by Securian Asset Management Inc.

Securian Asset Management Inc. cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,348 shares of the company’s stock after selling 340 shares during the quarter. Securian Asset Management Inc.’s holdings in PACCAR were worth $2,600,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PCAR. Wellington Management Group LLP lifted its stake in PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after buying an additional 3,379,165 shares in the last quarter. Pacer Advisors Inc. lifted its stake in PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company’s stock valued at $205,469,000 after buying an additional 2,041,168 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in PACCAR by 177.9% during the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after buying an additional 1,677,736 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in PACCAR by 16,393.9% during the first quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock valued at $139,402,000 after buying an additional 1,422,992 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in PACCAR during the first quarter valued at about $125,566,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $99.85 on Wednesday. The firm has a market cap of $52.43 billion, a PE ratio of 17.10, a PEG ratio of 4.00 and a beta of 0.94. The firm’s 50 day moving average price is $98.50 and its 200 day moving average price is $95.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR’s revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.85 EPS. As a group, research analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of analyst reports. Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research note on Tuesday. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a research report on Tuesday. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. UBS Group raised shares of PACCAR from a “sell” rating to a “neutral” rating and increased their price target for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of PACCAR in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.86.

About PACCAR

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.