PACCAR Inc (NASDAQ:PCAR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in shares of PACCAR Inc (NASDAQ:PCARGet Rating) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,852 shares of the company’s stock after selling 3,169 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of PACCAR worth $16,368,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Disciplined Investments LLC increased its stake in shares of PACCAR by 280.0% during the first quarter. Disciplined Investments LLC now owns 323 shares of the company’s stock valued at $28,000 after acquiring an additional 238 shares during the period. Riverview Trust Co bought a new stake in PACCAR during the first quarter worth approximately $30,000. CENTRAL TRUST Co boosted its holdings in PACCAR by 800.0% during the first quarter. CENTRAL TRUST Co now owns 585 shares of the company’s stock worth $52,000 after buying an additional 520 shares in the last quarter. St. James Investment Advisors LLC bought a new stake in PACCAR during the fourth quarter worth approximately $54,000. Finally, Quent Capital LLC bought a new stake in PACCAR during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 63.56% of the company’s stock.

PACCAR Trading Up 0.0 %

PACCAR stock opened at $90.88 on Friday. The company’s fifty day simple moving average is $84.89 and its 200-day simple moving average is $87.02. The company has a quick ratio of 1.07, a current ratio of 1.43 and a debt-to-equity ratio of 0.58. PACCAR Inc has a 12 month low of $77.00 and a 12 month high of $97.56. The stock has a market cap of $31.60 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.17 and a beta of 0.89.

PACCAR (NASDAQ:PCARGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.81 by $0.26. PACCAR had a net margin of 8.68% and a return on equity of 18.64%. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the previous year, the company posted $1.41 EPS. PACCAR’s revenue was up 26.0% on a year-over-year basis. As a group, sell-side analysts forecast that PACCAR Inc will post 7.73 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 7th. Investors of record on Wednesday, August 17th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, August 16th. PACCAR’s payout ratio is presently 21.45%.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, July 29th. The shares were sold at an average price of $91.50, for a total value of $183,000.00. Following the completion of the sale, the vice president now owns 2,119 shares of the company’s stock, valued at approximately $193,888.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.05% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup raised their target price on shares of PACCAR from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Monday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $106.00 to $94.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PACCAR from $94.00 to $97.00 in a report on Wednesday, July 27th. Finally, Cowen lowered their price objective on shares of PACCAR from $100.00 to $92.00 in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $94.69.

About PACCAR

(Get Rating)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

Featured Stories

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCARGet Rating).

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

Want More Great Investing Ideas?

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.