Pictet Asset Management Holding SA Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Pictet Asset Management Holding SA lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 8.7% in the 4th quarter, HoldingsChannel reports. The firm owned 248,816 shares of the company’s stock after selling 23,822 shares during the quarter. Pictet Asset Management Holding SA’s holdings in PACCAR were worth $25,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter worth approximately $526,922,000. JPMorgan Chase & Co. boosted its stake in shares of PACCAR by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company’s stock valued at $409,994,000 after purchasing an additional 426,311 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of PACCAR by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after purchasing an additional 61,457 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR Trading Up 0.5 %

NASDAQ:PCAR opened at $97.37 on Tuesday. The company has a 50-day moving average price of $104.93 and a 200-day moving average price of $106.74. The stock has a market cap of $51.11 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $124.39.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.36%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio is presently 16.69%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Evercore ISI cut their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Citigroup dropped their target price on PACCAR from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Monday. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $124.00 to $108.00 in a research note on Tuesday, March 18th. Melius Research set a $120.00 price objective on PACCAR in a research note on Tuesday, March 18th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $117.54.

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.