Mount Lucas Management LP Reduces Holdings in PACCAR Inc. (NASDAQ:PCAR)

Mount Lucas Management LP decreased its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 65.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,661 shares of the company's stock after selling 14,589 shares during the quarter. Mount Lucas Management LP's holdings in PACCAR were worth $746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Brighton Jones LLC increased its position in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after acquiring an additional 290 shares during the period. Proficio Capital Partners LLC purchased a new position in PACCAR in the fourth quarter valued at $215,000. TD Private Client Wealth LLC increased its holdings in PACCAR by 12.4% in the fourth quarter. TD Private Client Wealth LLC now owns 2,610 shares of the company's stock valued at $271,000 after buying an additional 287 shares during the last quarter. American Century Companies Inc. increased its holdings in PACCAR by 15.8% in the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock valued at $65,675,000 after buying an additional 86,215 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in PACCAR by 3.6% in the fourth quarter. Sei Investments Co. now owns 126,268 shares of the company's stock valued at $13,134,000 after buying an additional 4,422 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

NASDAQ:PCAR traded up $0.14 during mid-day trading on Friday, reaching $101.57. The stock had a trading volume of 2,935,558 shares, compared to its average volume of 2,939,991. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73. The firm has a market capitalization of $53.32 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 3.83 and a beta of 0.94. The business has a 50 day simple moving average of $94.94 and a 200 day simple moving average of $98.40.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its 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. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the company posted $2.13 earnings per share. The firm's quarterly revenue was down 15.7% compared to the same quarter last year. On average, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued 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 1.30%. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director directly owned 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several research analyst reports. Evercore ISI decreased their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research note on Wednesday, April 16th. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a research note on Wednesday. Finally, Royal Bank Of Canada decreased their price objective on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $106.45.

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.