Franklin Resources Inc. Sells 139,792 Shares of PACCAR Inc (NASDAQ:PCAR)

Franklin Resources Inc. reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 42.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 191,400 shares of the company's stock after selling 139,792 shares during the period. Franklin Resources Inc.'s holdings in PACCAR were worth $20,713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of PACCAR in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. boosted its position in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock valued at $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR during the 2nd quarter worth about $36,000. Grove Bank & Trust raised its position in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after acquiring an additional 103 shares in the last quarter. Finally, Sander Capital Advisors Inc. acquired a new position in shares of PACCAR in the 3rd quarter valued at about $50,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares of the company's stock, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company's stock.

PACCAR Stock Down 2.0 %

PCAR stock traded down $2.19 during mid-day trading on Friday, reaching $105.32. 6,269,136 shares of the company traded hands, compared to its average volume of 2,594,300. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average price is $111.47 and its 200 day moving average price is $104.00. The stock has a market cap of $55.22 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.77 and a beta of 0.91. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

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

PACCAR Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $3.00 dividend. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date is Friday, December 20th. PACCAR's dividend payout ratio is presently 13.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PCAR shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. BNP Paribas upgraded shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Finally, Citigroup lifted their price target on shares of PACCAR from $120.00 to $125.00 and gave the company a "neutral" rating in a research note on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $118.50.

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.