Ontario Teachers Pension Plan Board Sells 393,667 Shares of PACCAR Inc (NASDAQ:PCAR)

Ontario Teachers Pension Plan Board decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 10.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,501,228 shares of the company's stock after selling 393,667 shares during the period. PACCAR comprises 3.4% of Ontario Teachers Pension Plan Board's portfolio, making the stock its 15th biggest position. Ontario Teachers Pension Plan Board owned about 0.67% of PACCAR worth $341,895,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PCAR. AdvisorNet Financial Inc increased its position in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. ORG Partners LLC boosted its holdings in shares of PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company's stock valued at $37,000 after buying an additional 372 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in PACCAR by 55.1% during the third quarter. Larson Financial Group LLC now owns 459 shares of the company's stock worth $39,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PCAR stock traded up $2.73 on Wednesday, hitting $108.33. The company's stock had a trading volume of 3,209,880 shares, compared to its average volume of 2,425,812. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The company has a market capitalization of $56.78 billion, a PE ratio of 11.24, a PEG ratio of 1.63 and a beta of 0.96. The stock's 50 day moving average is $114.75 and its 200-day moving average is $104.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.25 EPS. Equities research analysts expect that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from PACCAR's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, May 14th. PACCAR's dividend payout ratio is presently 12.45%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent analyst reports. Royal Bank of Canada assumed coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 price target for the company. UBS Group raised PACCAR from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. cut their price objective on PACCAR from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on PACCAR from $106.00 to $121.00 and gave the stock a "neutral" rating in a report on Tuesday, April 16th. Finally, Evercore ISI lifted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 20th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and an average price target of $112.62.

Insider Transactions at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of the business's stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the business's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by corporate insiders.

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.