PACCAR Inc (NASDAQ:PCAR) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,286,852 shares of the company’s stock after selling 230,074 shares during the period. TD Asset Management Inc. owned about 0.44% of PACCAR worth $237,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Everence Capital Management Inc. acquired a new stake in PACCAR during the 4th quarter worth about $1,984,000. Cullen Frost Bankers Inc. raised its holdings in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after acquiring an additional 6,494 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,871 shares during the period. Insight Wealth Strategies LLC lifted its position in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

Shares of PCAR opened at $98.64 on Tuesday. The firm has a market cap of $51.77 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company’s fifty day moving average is $106.10 and its 200-day moving average is $106.60. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCAR shares. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and reduced their target price for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. JPMorgan Chase & Co. dropped their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Finally, Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average price target of $118.23.

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.