Amalgamated Bank Sells 6,020 Shares of PACCAR Inc (NASDAQ:PCAR)

Amalgamated Bank lessened its stake in PACCAR Inc (NASDAQ:PCARGet Rating) by 6.5% in the first quarter, HoldingsChannel reports. The firm owned 86,976 shares of the company’s stock after selling 6,020 shares during the period. Amalgamated Bank’s holdings in PACCAR were worth $7,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Disciplined Investments LLC increased its holdings in PACCAR by 280.0% in the first quarter. Disciplined Investments LLC now owns 323 shares of the company’s stock valued at $28,000 after purchasing an additional 238 shares during the last quarter. Riverview Trust Co bought a new stake in shares of PACCAR in the first quarter worth about $30,000. Achmea Investment Management B.V. bought a new stake in shares of PACCAR in the first quarter worth about $33,000. Prospera Financial Services Inc bought a new stake in shares of PACCAR in the first quarter worth about $39,000. Finally, CENTRAL TRUST Co increased its holdings in shares of PACCAR by 800.0% in the first quarter. CENTRAL TRUST Co now owns 585 shares of the company’s stock worth $52,000 after acquiring an additional 520 shares in the last quarter. Institutional investors own 64.17% of the company’s stock.

PACCAR Stock Down 0.6 %

PCAR stock opened at $85.14 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $88.20 and a two-hundred day moving average price of $86.27. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.11 and a beta of 0.89. PACCAR Inc has a twelve month low of $77.00 and a twelve month high of $97.56.

PACCAR (NASDAQ:PCARGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.26. The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. PACCAR had a return on equity of 18.64% and a net margin of 8.68%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. Analysts anticipate that PACCAR Inc will post 7.73 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.74%. This is an increase from PACCAR’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, November 14th. PACCAR’s dividend payout ratio (DPR) is currently 21.45%.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $91.50, for a total transaction of $183,000.00. Following the completion of the transaction, the vice president now directly owns 2,119 shares in the company, valued at approximately $193,888.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.05% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PCAR shares. JPMorgan Chase & Co. lowered their price target on PACCAR from $106.00 to $94.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Vertical Research downgraded PACCAR from a “buy” rating to a “hold” rating and increased their price target for the stock from $100.00 to $102.00 in a report on Wednesday, August 17th. Cowen lowered their price target on PACCAR from $100.00 to $92.00 in a report on Thursday, July 7th. Credit Suisse Group increased their price target on PACCAR from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on PACCAR from $94.00 to $97.00 in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.21.

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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