PACCAR Inc. $PCAR Shares Sold by Voya Investment Management LLC

by · The Cerbat Gem

Voya Investment Management LLC lowered its position in PACCAR Inc. (NASDAQ:PCARFree Report) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,544 shares of the company’s stock after selling 19,353 shares during the quarter. Voya Investment Management LLC’s holdings in PACCAR were worth $15,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. grew its position in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in PACCAR by 2.9% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares during the last quarter. Intellectus Partners LLC lifted its position in PACCAR by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after acquiring an additional 109 shares during the period. Focus Partners Advisor Solutions LLC grew its stake in shares of PACCAR by 1.2% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock valued at $917,000 after purchasing an additional 116 shares during the last quarter. Finally, Hamilton Capital LLC increased its holdings in shares of PACCAR by 3.4% in the second quarter. Hamilton Capital LLC now owns 4,052 shares of the company’s stock valued at $385,000 after purchasing an additional 132 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

NASDAQ:PCAR opened at $112.81 on Tuesday. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $59.25 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 15.26 and a beta of 1.01. The firm has a 50-day moving average price of $102.59 and a two-hundred day moving average price of $99.22. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $115.43.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is currently 25.83%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCAR. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company began coverage on PACCAR in a research report on Thursday, November 13th. They set a “positive” rating and a $106.00 target price on the stock. JPMorgan Chase & Co. upgraded PACCAR from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $108.00 to $133.00 in a research note on Friday. Morgan Stanley set a $90.00 price target on shares of PACCAR in a research note on Tuesday, October 21st. Finally, Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.04.

Check Out Our Latest Stock Analysis on PACCAR

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by company insiders.

About PACCAR

(Free Report)

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.

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