PACCAR Inc (NASDAQ:PCAR) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its position in PACCAR Inc (NASDAQ:PCAR) by 9.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 236,379 shares of the company’s stock after selling 24,528 shares during the period. Toronto Dominion Bank’s holdings in PACCAR were worth $23,326,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PCAR. Wellington Management Group LLP increased its stake in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after purchasing an additional 171,317 shares during the period. Fisher Asset Management LLC grew its position in 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 grew its stake in PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after buying an additional 242,435 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value 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. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PCAR shares. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Truist Financial raised their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup raised their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus target price of $118.25.

PACCAR Trading Down 2.6 %

NASDAQ PCAR opened at $112.80 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a 50-day simple moving average of $110.53 and a 200-day simple moving average of $103.83. The firm has a market capitalization of $59.14 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 earnings per share. On average, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date is Friday, December 20th. PACCAR’s payout ratio is 13.41%.

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.