PACCAR Inc (NASDAQ:PCAR) Stock Holdings Reduced by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 29.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,964 shares of the company's stock after selling 55,436 shares during the quarter. Franklin Resources Inc.'s holdings in PACCAR were worth $14,143,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PCAR. B. Metzler seel. Sohn & Co. AG increased its stake in PACCAR by 357.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 100,063 shares of the company's stock valued at $10,409,000 after purchasing an additional 78,200 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of PACCAR by 2.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,200,694 shares of the company's stock valued at $332,936,000 after buying an additional 63,648 shares during the last quarter. Meeder Asset Management Inc. raised its stake in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares during the period. Wellington Management Group LLP lifted its holdings in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in PACCAR by 9.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 65,398 shares of the company's stock valued at $6,803,000 after acquiring an additional 5,766 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup dropped their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average target price of $112.13.

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded up $1.70 on Friday, reaching $90.47. 3,357,834 shares of the company traded hands, compared to its average volume of 2,738,077. The stock has a market capitalization of $47.49 billion, a PE ratio of 11.44, a P/E/G ratio of 2.77 and a beta of 0.96. 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 company's 50 day moving average is $100.92 and its 200-day moving average is $106.15. PACCAR Inc has a fifty-two week low of $85.10 and a fifty-two week high of $121.75.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced 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 net margin of 12.36% and a return on equity of 23.53%. As a group, analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. PACCAR's payout ratio is currently 16.69%.

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.