Envestnet Asset Management Inc. Sells 19,182 Shares of PACCAR Inc. $PCAR

Envestnet Asset Management Inc. lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 476,660 shares of the company’s stock after selling 19,182 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of PACCAR worth $46,865,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PCAR. JT Stratford LLC bought a new position in shares of PACCAR during the second quarter worth $1,301,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in PACCAR by 77.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after buying an additional 103,664 shares during the period. National Pension Service lifted its holdings in PACCAR by 5.5% during the third quarter. National Pension Service now owns 939,146 shares of the company’s stock worth $92,337,000 after acquiring an additional 48,711 shares in the last quarter. AE Wealth Management LLC grew its stake in PACCAR by 29.1% in the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock valued at $3,893,000 after acquiring an additional 8,932 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of PACCAR in the third quarter worth about $3,817,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the transaction, the executive vice president directly owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This represents a 69.53% 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, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the sale, the executive vice president owned 12,592 shares of the company’s stock, valued at approximately $1,593,265.76. This represents a 43.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 130,905 shares of company stock valued at $16,582,144. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.1%

PACCAR stock opened at $127.26 on Tuesday. The stock has a 50-day simple moving average of $116.59 and a 200 day simple moving average of $105.09. The stock has a market capitalization of $66.84 billion, a P/E ratio of 28.22, a PEG ratio of 1.07 and a beta of 1.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.42 and a current ratio of 1.70. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s revenue was down 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.66 earnings per share. Analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s payout ratio is 29.27%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Citigroup raised their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.50.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.