PACCAR Inc. $PCAR Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its PACCAR stake by 17.1% in the fourth quarter, selling 196,554 shares and leaving it with 952,501 shares worth about $104.3 million.
• Analyst sentiment on PACCAR is mixed, with a consensus rating of “Hold” and an average price target of $122; recent notes included both price-target cuts and one ratings downgrade.
• PACCAR reported quarterly EPS of $1.15 in line with expectations, beat revenue estimates at $6.78 billion, and raised its quarterly dividend to $0.35 per share from $0.33.

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 17.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 952,501 shares of the company's stock after selling 196,554 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.18% of PACCAR worth $104,308,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Deseret Mutual Benefit Administrators increased its stake in PACCAR by 9.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company's stock valued at $97,000 after purchasing an additional 80 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in PACCAR by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company's stock valued at $2,869,000 after purchasing an additional 81 shares in the last quarter. CYBER HORNET ETFs LLC increased its stake in PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company's stock valued at $163,000 after purchasing an additional 87 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in PACCAR by 3.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company's stock valued at $317,000 after purchasing an additional 87 shares in the last quarter. Finally, Jackson Square Capital LLC increased its stake in PACCAR by 3.5% during the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company's stock valued at $290,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCAR shares. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an "equal weight" rating in a research note on Wednesday, April 29th. Weiss Ratings lowered shares of PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Sanford C. Bernstein reiterated an "outperform" rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $122.00.

PACCAR Stock Up 0.8%

NASDAQ:PCAR opened at $118.52 on Friday. The firm has a market capitalization of $62.38 billion, a P/E ratio of 25.22, a PEG ratio of 1.10 and a beta of 0.98. PACCAR Inc. has a 1-year low of $90.05 and a 1-year high of $131.88. The company's fifty day moving average price is $117.65 and its 200-day moving average price is $117.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts' consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, equities research analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This is an increase from PACCAR's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR's dividend payout ratio (DPR) is currently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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