Blueshift Asset Management LLC Sells 1,360 Shares of PACCAR Inc (NASDAQ:PCAR)

Blueshift Asset Management LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 21.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,131 shares of the company’s stock after selling 1,360 shares during the quarter. Blueshift Asset Management LLC’s holdings in PACCAR were worth $506,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PCAR. BDF Gestion bought a new position in PACCAR during the 2nd quarter valued at $2,862,000. Mengis Capital Management Inc. lifted its position in shares of PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Virtu Financial LLC purchased a new position in PACCAR during the first quarter worth about $1,359,000. Fisher Asset Management LLC grew its position in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in PACCAR by 28.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after buying an additional 5,437 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares of the company’s stock, valued at approximately $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

Shares of PCAR stock opened at $116.18 on Thursday. The firm’s 50 day moving average is $106.94 and its 200 day moving average is $103.19. The stock has a market capitalization of $60.91 billion, a P/E ratio of 12.98, a PEG ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. 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 (NASDAQ:PCAR) last posted its 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 firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is presently 13.41%.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research analyst reports. Citigroup boosted their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus price target of $117.64.

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.