PACCAR Inc (PCAR) Shares Sold by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 55,908 shares of the company’s stock after selling 8,258 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in PACCAR were worth $3,974,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its holdings in PACCAR by 3.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 763,018 shares of the company’s stock worth $55,197,000 after buying an additional 22,184 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at about $1,144,000. Garde Capital Inc. bought a new stake in shares of PACCAR during the 3rd quarter valued at about $897,000. Belpointe Asset Management LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at about $279,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of PACCAR during the 3rd quarter valued at about $722,000. Institutional investors own 62.26% of the company’s stock.
A number of research firms have issued reports on PCAR. Royal Bank of Canada restated a “buy” rating and set a $82.00 price target on shares of PACCAR in a research note on Thursday. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, January 2nd. Piper Jaffray Companies set a $67.00 price target on PACCAR and gave the company a “hold” rating in a research note on Sunday, December 10th. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Finally, JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $75.32.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. equities research analysts predict that PACCAR Inc will post 4.19 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were issued a dividend of $1.20 per share. The ex-dividend date was Wednesday, December 13th. This represents a yield of 1.4%. PACCAR’s payout ratio is presently 25.64%.
In related news, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the sale, the insider now owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP C Michael Dozier sold 3,618 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. Insiders have sold a total of 106,598 shares of company stock worth $7,597,908 in the last 90 days. 2.64% of the stock is currently owned by insiders.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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