Marshall Wace LLP Reduces Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Marshall Wace LLP decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 67.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,424 shares of the company’s stock after selling 106,324 shares during the quarter. Marshall Wace LLP’s holdings in PACCAR were worth $5,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after acquiring an additional 171,317 shares during the period. Fisher Asset Management LLC raised its holdings in PACCAR by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after purchasing an additional 83,444 shares in the last quarter. Capital International Investors raised its holdings in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PACCAR by 1.5% in the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after purchasing an additional 48,784 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in PACCAR by 24.3% in the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after purchasing an additional 504,346 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PCAR. Evercore ISI decreased their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Citigroup decreased their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.73.

PACCAR Price Performance

NASDAQ PCAR opened at $98.05 on Wednesday. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The stock has a 50-day moving average of $95.80 and a 200 day moving average of $105.25. The company has a market capitalization of $51.39 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.53 and a beta of 0.91. 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 quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. PACCAR’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.22%. PACCAR’s payout ratio is 12.45%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.02% of the company’s stock.

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.