International Assets Investment Management LLC Decreases Holdings in PACCAR Inc (NASDAQ:PCAR)

International Assets Investment Management LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 99.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,892 shares of the company's stock after selling 286,142 shares during the quarter. International Assets Investment Management LLC's holdings in PACCAR were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Wellington Management Group LLP lifted its stake in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after acquiring an additional 3,296,146 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company's stock worth $557,572,000 after buying an additional 171,317 shares during the period. Fisher Asset Management LLC raised its holdings in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after acquiring an additional 89,245 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company's stock valued at $445,681,000 after purchasing an additional 242,435 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Down 1.8 %

Shares of PCAR stock opened at $106.58 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a market cap of $55.88 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. The stock has a 50 day simple moving average of $111.26 and a 200 day simple moving average of $103.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 earnings per share. On average, research analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is 14.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PCAR shares. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup increased their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a "neutral" rating in a research note on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $118.50.

Insider Activity at PACCAR

In other news, SVP Kevin D. Baney sold 9,894 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares of the company's stock, valued at $761,947. The trade was a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 3,230 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company's stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last three months. 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.