Franklin Resources Inc. Has $20.71 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Franklin Resources Inc. reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 42.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,400 shares of the company’s stock after selling 139,792 shares during the period. Franklin Resources Inc.’s holdings in PACCAR were worth $20,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCAR. CVA Family Office LLC increased its position in PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after acquiring an additional 97 shares during the period. Omnia Family Wealth LLC grew its position in shares of PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after purchasing an additional 98 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the period. Insight Wealth Partners LLC boosted its stake in shares of PACCAR by 1.4% in the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after buying an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in PACCAR by 17.6% during the second quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company’s stock worth $72,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 0.3 %

PCAR opened at $107.51 on Friday. The company has a market cap of $56.37 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The company has a fifty day moving average price of $111.47 and a two-hundred day moving average price of $104.00. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

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

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent analyst reports. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Citigroup increased their target price on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average price target of $118.50.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 over the last three months. 2.02% of the stock is currently owned by insiders.

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.