Quantitative Investment Management LLC Sells 2,758 Shares of PACCAR Inc. $PCAR

Key Points

• Quantitative Investment Management LLC reduced its holdings in PACCAR Inc. by 50.5%, owning 2,703 shares valued at $263,000 after selling 2,758 shares in the first quarter.
• The company reported a net margin of 9.88% and quarterly earnings per share of $1.37, exceeding the consensus estimate by $0.09.
• PACCAR announced a quarterly dividend of $0.33 per share, which will be paid on September 4th, representing an annualized yield of 1.3%.

Quantitative Investment Management LLC lowered its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,703 shares of the company's stock after selling 2,758 shares during the period. Quantitative Investment Management LLC's holdings in PACCAR were worth $263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP boosted its position in PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after buying an additional 987,805 shares during the last quarter. Northern Trust Corp lifted its position in shares of PACCAR by 0.5% during the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock valued at $704,956,000 after buying an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock valued at $594,277,000 after buying an additional 97,197 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Down 0.7%

PCAR stock traded down $0.70 on Friday, reaching $99.98. 2,225,815 shares of the company traded hands, compared to its average volume of 2,854,216. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The company has a market cap of $52.50 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 4.07 and a beta of 0.91. The firm has a fifty day simple moving average of $97.62 and a 200-day simple moving average of $96.66.

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

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 annualized dividend and a dividend yield of 1.3%. PACCAR's payout ratio is currently 22.60%.

Insider Buying and Selling at PACCAR

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday, July 28th. Citigroup upped their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Evercore ISI set a $114.00 price objective on PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, Vertical Research upgraded PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.68.

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.