Zimmermann Investment Management & Planning LLC Sells 168 Shares of PACCAR Inc (NASDAQ:PCAR)

Zimmermann Investment Management & Planning LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,991 shares of the company’s stock after selling 168 shares during the quarter. Zimmermann Investment Management & Planning LLC’s holdings in PACCAR were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its stake in PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares during the period. BDF Gestion bought a new position in shares of PACCAR during the 2nd quarter worth $2,862,000. California State Teachers Retirement System grew its stake in shares of PACCAR by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after acquiring an additional 9,978 shares during the period. Advisory Services Network LLC grew its stake in shares of PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of PACCAR by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after acquiring an additional 105,109 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ:PCAR traded up $0.17 during mid-day trading on Wednesday, reaching $94.53. The stock had a trading volume of 3,514,062 shares, compared to its average volume of 2,635,070. The firm has a 50 day moving average price of $99.81 and a two-hundred day moving average price of $107.91. The stock has a market capitalization of $49.55 billion, a P/E ratio of 9.81, a P/E/G ratio of 1.47 and a beta of 0.92. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. As a group, analysts expect that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.27%. PACCAR’s payout ratio is currently 12.45%.

Analyst Ratings Changes

PCAR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI reduced their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. reduced their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup reduced their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average target price of $112.73.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR 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.