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

Toronto Dominion Bank lowered its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 22.7% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Shellback Capital LP acquired a new position in PACCAR in the fourth quarter valued at $11,875,000. Royal Bank of Canada lifted its stake in shares of PACCAR by 6.0% in the 4th quarter. Royal Bank of Canada now owns 1,786,785 shares of the company's stock valued at $185,862,000 after purchasing an additional 100,866 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of PACCAR by 5.2% in the 4th quarter. Rafferty Asset Management LLC now owns 171,010 shares of the company's stock valued at $17,788,000 after purchasing an additional 8,396 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of PACCAR during the 4th quarter valued at about $309,000. Finally, Point72 Italy S.r.l. acquired a new stake in PACCAR during the fourth quarter worth approximately $1,435,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR opened at $97.01 on Tuesday. The firm has a market capitalization of $50.93 billion, a P/E ratio of 12.26, 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. The stock has a 50 day moving average price of $93.23 and a two-hundred day moving average price of $103.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company's quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.27 EPS. Equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. PACCAR's payout ratio is 20.00%.

Insider Activity

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCAR. StockNews.com upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a research note on Wednesday, April 16th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $108.00 to $78.00 in a report on Monday, April 7th. Finally, Royal Bank of Canada reduced their target price on 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, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of "Hold" and an average price target of $104.14.

About PACCAR

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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