PACCAR Inc. (NASDAQ:PCAR) Shares Sold by LGT Capital Partners LTD.

Key Points

• LGT Capital Partners LTD. reduced its stake in PACCAR Inc. by 29.0% to approximately $35.23 million, making it the firm's 24th largest position.
• Institutional investors collectively own 64.90% of PACCAR's stock, with several hedge funds recently increasing their holdings.
• PACCAR announced a quarterly dividend of $0.33 per share, representing an annualized yield of 1.4%, set to be paid on September 4th.

LGT Capital Partners LTD. reduced its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 361,780 shares of the company's stock after selling 147,805 shares during the period. PACCAR makes up about 1.6% of LGT Capital Partners LTD.'s portfolio, making the stock its 24th biggest holding. LGT Capital Partners LTD. owned approximately 0.07% of PACCAR worth $35,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after buying an additional 290 shares during the period. Huntington National Bank increased its position in PACCAR by 126.8% in the 4th quarter. Huntington National Bank now owns 2,386 shares of the company's stock valued at $248,000 after acquiring an additional 1,334 shares during the period. Nicolet Advisory Services LLC increased its position in PACCAR by 3.7% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company's stock valued at $373,000 after acquiring an additional 125 shares during the period. World Investment Advisors increased its position in PACCAR by 5.8% in the 4th quarter. World Investment Advisors now owns 4,490 shares of the company's stock valued at $467,000 after acquiring an additional 246 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of PACCAR in the fourth quarter valued at about $15,958,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Citigroup upped their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price target on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has an average rating of "Moderate Buy" and an average price target of $107.77.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

PACCAR Stock Up 0.4%

Shares of PCAR stock traded up $0.39 during trading hours on Tuesday, reaching $96.73. 684,659 shares of the company's stock were exchanged, compared to its average volume of 2,932,638. The stock's 50 day moving average is $95.47 and its 200-day moving average is $97.76. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a market cap of $50.78 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 3.85 and a beta of 0.91. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 EPS. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

About PACCAR

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.