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PACCAR Inc. (NASDAQ:PCAR) Shares Sold by TD Asset Management Inc

PACCAR logo with Auto/Tires/Trucks background

Key Points

  • TD Asset Management Inc reduced its holdings in PACCAR Inc. by 10.6%, now owning approximately 0.39% of the company valued at $199 million.
  • Multiple institutional investors have significantly increased their positions in PACCAR, including Kovitz Investment Group, which raised its stake by 370.5%.
  • Analysts have revised price targets for PACCAR, with the Royal Bank of Canada lowering it from $106 to $97, while other analysts maintain a "Moderate Buy" consensus rating.
  • Five stocks to consider instead of PACCAR.

TD Asset Management Inc cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,044,887 shares of the company's stock after selling 241,965 shares during the quarter. TD Asset Management Inc owned about 0.39% of PACCAR worth $199,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares during the period. Alpine Bank Wealth Management purchased a new position in PACCAR during the 1st quarter valued at about $29,000. Sunbelt Securities Inc. boosted its holdings in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in PACCAR by 64.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after acquiring an additional 174 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCAR has been the subject of a number of research analyst reports. Citigroup raised their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a report on Monday. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Vertical Research upgraded PACCAR to a "strong-buy" rating in a 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and a consensus price target of $107.77.

View Our Latest Stock Analysis on PACCAR

Insider Activity

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

PACCAR Stock Up 0.4%

PCAR stock traded up $0.41 during mid-day trading on Wednesday, reaching $99.89. The company had a trading volume of 793,520 shares, compared to its average volume of 2,920,139. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.40 and a current ratio of 1.73. The company has a market capitalization of $52.44 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 4.01 and a beta of 0.94. The firm has a fifty day simple moving average of $95.17 and a 200 day simple moving average of $98.17. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81.

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

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

PACCAR Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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