PACCAR Inc (PCAR) Shares Sold by Bridgewater Associates LP
Bridgewater Associates LP trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 94.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,005 shares of the company’s stock after selling 72,842 shares during the quarter. Bridgewater Associates LP’s holdings in PACCAR were worth $273,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PCAR. Bank of New York Mellon Corp boosted its holdings in PACCAR by 33.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after acquiring an additional 1,505,929 shares during the period. FMR LLC boosted its holdings in PACCAR by 26.1% during the 3rd quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after acquiring an additional 1,249,446 shares during the period. Federated Investors Inc. PA boosted its holdings in PACCAR by 9,286.5% during the 2nd quarter. Federated Investors Inc. PA now owns 902,329 shares of the company’s stock valued at $55,908,000 after acquiring an additional 892,716 shares during the period. Schroder Investment Management Group boosted its holdings in PACCAR by 934.2% during the 2nd quarter. Schroder Investment Management Group now owns 869,356 shares of the company’s stock valued at $53,935,000 after acquiring an additional 785,295 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in PACCAR by 75.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock valued at $121,393,000 after acquiring an additional 763,338 shares during the period. Institutional investors own 60.57% of the company’s stock.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday. Loop Capital assumed coverage on PACCAR in a research report on Wednesday, October 17th. They issued a “hold” rating and a $68.00 price target on the stock. BidaskClub lowered PACCAR from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Morgan Stanley set a $58.00 price target on PACCAR and gave the company a “sell” rating in a research report on Wednesday, October 24th. Finally, Piper Jaffray Companies raised PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a research report on Wednesday, October 24th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $69.02.
Shares of NASDAQ PCAR opened at $58.58 on Friday. The company has a current ratio of 2.63, a quick ratio of 2.44 and a debt-to-equity ratio of 0.72. PACCAR Inc has a fifty-two week low of $53.95 and a fifty-two week high of $79.69. The stock has a market cap of $20.79 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the company earned $1.14 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts forecast that PACCAR Inc will post 6.16 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 14th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Thursday, December 13th. PACCAR’s dividend payout ratio (DPR) is presently 26.29%.
PACCAR declared that its board has approved a stock repurchase program on Tuesday, December 4th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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