Stoneridge Investment Partners LLC Sells 105 Shares of PACCAR Inc (NASDAQ:PCAR)

Stoneridge Investment Partners LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,148 shares of the company’s stock after selling 105 shares during the period. Stoneridge Investment Partners LLC’s holdings in PACCAR were worth $1,199,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Capital International Investors boosted its position in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of PACCAR in the 2nd quarter worth approximately $88,437,000. Dorsey & Whitney Trust CO LLC raised its stake in shares of PACCAR by 3,636.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after acquiring an additional 531,794 shares in the last quarter. TD Asset Management Inc lifted its position in PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after acquiring an additional 504,346 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in PACCAR in the second quarter valued at approximately $51,277,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented 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. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup raised their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.82.

PACCAR Price Performance

NASDAQ:PCAR opened at $104.82 on Tuesday. The stock has a market capitalization of $54.96 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. PACCAR Inc has a 52 week low of $85.14 and a 52 week high of $125.50. The stock’s 50-day moving average price is $100.51 and its 200-day moving average price is $102.58. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the company earned $2.34 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts expect that PACCAR Inc will post 8 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. PACCAR’s payout ratio is presently 13.41%.

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.