PACCAR Inc (NASDAQ:PCAR) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in PACCAR Inc (NASDAQ:PCAR) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 137,901 shares of the company’s stock after selling 6,192 shares during the period. Amalgamated Bank’s holdings in PACCAR were worth $13,466,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the third quarter valued at about $26,000. AdvisorNet Financial Inc boosted its holdings in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of PACCAR in the 3rd quarter valued at approximately $34,000. Bruce G. Allen Investments LLC acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. Finally, ORG Partners LLC raised its position in shares of PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after buying an additional 372 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.6 %

PACCAR stock traded down $1.67 during mid-day trading on Friday, reaching $104.79. 3,899,036 shares of the company’s stock were exchanged, compared to its average volume of 2,455,959. The company has a quick ratio of 2.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50. The company has a market cap of $54.91 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.60 and a beta of 0.96. The company has a fifty day moving average of $116.54 and a 200-day moving average of $102.39.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the firm earned $2.25 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc will post 8.23 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is presently 11.20%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PCAR. TD Cowen increased their price objective on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, Morgan Stanley assumed coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.62.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

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.