Banque Cantonale Vaudoise Sells 4,249 Shares of PACCAR Inc (NASDAQ:PCAR)

Banque Cantonale Vaudoise reduced its holdings in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 18.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,141 shares of the company’s stock after selling 4,249 shares during the quarter. Banque Cantonale Vaudoise’s holdings in PACCAR were worth $1,627,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. PGGM Investments increased its holdings in PACCAR by 6.5% during the third quarter. PGGM Investments now owns 102,016 shares of the company’s stock worth $8,673,000 after buying an additional 6,217 shares during the last quarter. Amalgamated Bank increased its position in PACCAR by 1.8% during the third quarter. Amalgamated Bank now owns 144,093 shares of the company’s stock worth $12,251,000 after buying an additional 2,489 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in shares of PACCAR in the third quarter valued at approximately $108,000. Avantax Advisory Services Inc. acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $1,100,000. Finally, Oppenheimer Asset Management Inc. raised its stake in PACCAR by 4.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 58,286 shares of the company’s stock valued at $4,955,000 after acquiring an additional 2,576 shares during the period. Institutional investors own 65.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PCAR. Citigroup upped their price objective on shares of PACCAR from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. The Goldman Sachs Group increased their price target on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft upgraded PACCAR from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $94.00 to $115.00 in a report on Wednesday, October 25th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped their target price for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $107.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

Check Out Our Latest Stock Report on PACCAR

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,699 shares of company stock worth $12,143,407. Company insiders own 2.06% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $103.12 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.49 and a quick ratio of 1.20. PACCAR Inc has a 1 year low of $67.48 and a 1 year high of $103.54. The stock has a market cap of $53.94 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.65 and a beta of 0.90. The company has a 50 day simple moving average of $96.50 and a 200 day simple moving average of $89.44.

PACCAR (NASDAQ:PCARGet Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.76 earnings per share. Research analysts anticipate that PACCAR Inc will post 7.96 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a None dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th will be issued a dividend of $3.20 per share. The ex-dividend date is Wednesday, February 14th. This is a positive change from PACCAR’s previous None dividend of $0.89. PACCAR’s payout ratio is 12.31%.

About PACCAR

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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