Toronto Dominion Bank Sells 53,560 Shares of PACCAR Inc (NASDAQ:PCAR)

Toronto Dominion Bank reduced its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 22.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,819 shares of the company's stock after selling 53,560 shares during the period. Toronto Dominion Bank's holdings in PACCAR were worth $19,017,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PCAR. Meeder Asset Management Inc. increased its stake in shares of PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the fourth quarter valued at approximately $37,000. OFI Invest Asset Management purchased a new position in PACCAR during the fourth quarter valued at approximately $43,000. Finally, Atala Financial Inc purchased a new position in PACCAR during the fourth quarter valued at approximately $43,000. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In related news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.02% of the stock is currently owned by insiders.

PACCAR Trading Down 1.2%

PACCAR stock traded down $1.09 during mid-day trading on Friday, reaching $93.24. 2,249,642 shares of the company traded hands, compared to its average volume of 2,774,105. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm's 50 day moving average price is $92.82 and its 200 day moving average price is $103.37. The firm has a market capitalization of $48.95 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm's quarterly revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 earnings per share. On average, analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.42%. The ex-dividend date is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is 20.00%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research report on Wednesday, April 16th. Royal Bank of Canada lowered their price objective on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Finally, Truist Financial lowered their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $104.14.

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.