Gotham Asset Management LLC Sells 2,627 Shares of PACCAR Inc (NASDAQ:PCAR)

Gotham Asset Management LLC cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 41.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,718 shares of the company’s stock after selling 2,627 shares during the period. Gotham Asset Management LLC’s holdings in PACCAR were worth $387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Cullen Frost Bankers Inc. lifted its stake in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after acquiring an additional 6,494 shares during the last quarter. LPL Financial LLC lifted its position in shares of PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after buying an additional 12,143 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of PACCAR by 508.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 89,865 shares of the company’s stock worth $9,348,000 after purchasing an additional 75,090 shares during the period. American Century Companies Inc. raised its holdings in shares of PACCAR by 15.8% in the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock worth $65,675,000 after purchasing an additional 86,215 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in shares of PACCAR by 7.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 61,741 shares of the company’s stock worth $6,422,000 after purchasing an additional 4,390 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Pierre R. Breber bought 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PCAR shares. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. StockNews.com upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. JPMorgan Chase & Co. downgraded shares of PACCAR from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Citigroup dropped their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI dropped their target price on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $104.14.

PACCAR Price Performance

Shares of PCAR opened at $96.50 on Wednesday. The firm has a market capitalization of $50.66 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81. The company’s fifty day moving average price is $93.19 and its 200-day moving average price is $103.76.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.27 earnings per share. On average, equities research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.37%. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

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.