PACCAR Inc (NASDAQ:PCAR) Position Trimmed by Mizuho Securities USA LLC

Mizuho Securities USA LLC cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 15.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 33,993 shares of the company’s stock after selling 6,422 shares during the period. Mizuho Securities USA LLC’s holdings in PACCAR were worth $3,354,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its position in PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PACCAR by 12.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 797,521 shares of the company’s stock valued at $78,699,000 after buying an additional 88,784 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of PACCAR by 80.1% during the third quarter. Advisors Asset Management Inc. now owns 51,987 shares of the company’s stock valued at $5,130,000 after acquiring an additional 23,116 shares during the period. Commerce Bank grew its position in shares of PACCAR by 3.7% during the third quarter. Commerce Bank now owns 27,202 shares of the company’s stock worth $2,684,000 after acquiring an additional 981 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of PACCAR by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 371,719 shares of the company’s stock worth $36,681,000 after acquiring an additional 3,924 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PCAR. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Citigroup lifted their target price on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday. Truist Financial increased their price target on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $117.64.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $114.75 on Friday. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $105.77 and a two-hundred day moving average of $103.05. The company has a market capitalization of $60.16 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.79 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 EPS. As a group, analysts expect that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 over the last three months. Company insiders own 2.02% of the company’s stock.

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.