Charles Schwab Investment Management Inc. Sells 14,429 Shares of PACCAR Inc (NASDAQ:PCAR)

Charles Schwab Investment Management Inc. trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,897,742 shares of the company’s stock after selling 14,429 shares during the period. Charles Schwab Investment Management Inc. owned 0.55% of PACCAR worth $242,396,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of PACCAR by 86.2% in the 2nd quarter. Larson Financial Group LLC now owns 296 shares of the company’s stock worth $25,000 after acquiring an additional 137 shares in the last quarter. Marquette Asset Management LLC acquired a new position in PACCAR during the 2nd quarter valued at about $29,000. Avalon Trust Co acquired a new position in PACCAR during the 1st quarter valued at about $27,000. Achmea Investment Management B.V. acquired a new position in PACCAR during the 1st quarter valued at about $33,000. Finally, Grove Bank & Trust increased its position in PACCAR by 72.4% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the company’s stock valued at $29,000 after buying an additional 165 shares in the last quarter. 65.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 3,004 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $83.42, for a total transaction of $250,593.68. Following the transaction, the vice president now owns 3,230 shares in the company, valued at $269,446.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 3,004 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $83.42, for a total transaction of $250,593.68. Following the completion of the transaction, the vice president now owns 3,230 shares of the company’s stock, valued at $269,446.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 23,221 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $86.28, for a total value of $2,003,507.88. Following the transaction, the chief financial officer now directly owns 93,522 shares of the company’s stock, valued at approximately $8,069,078.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,221 shares of company stock worth $2,426,915. 2.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research analyst reports. Raymond James boosted their price target on PACCAR from $90.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 20th. Deutsche Bank Aktiengesellschaft upgraded PACCAR from a “hold” rating to a “buy” rating and boosted their price target for the company from $94.00 to $115.00 in a research note on Wednesday, October 25th. Citigroup boosted their price target on PACCAR from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Credit Suisse Group boosted their price target on PACCAR from $84.00 to $90.00 in a research note on Wednesday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on PACCAR from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus target price of $82.32.

PACCAR Stock Performance

Shares of PCAR stock opened at $90.91 on Friday. The company has a market capitalization of $47.55 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.01 and a beta of 0.89. The business’s 50 day moving average is $85.37 and its two-hundred day moving average is $81.92. The company has a current ratio of 2.61, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. PACCAR Inc has a 12-month low of $64.33 and a 12-month high of $91.64.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.27. The company had revenue of $8.70 billion for the quarter, compared to the consensus estimate of $8.19 billion. PACCAR had a return on equity of 31.31% and a net margin of 12.01%. PACCAR’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 earnings per share. Analysts expect that PACCAR Inc will post 8.99 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, December 6th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.19%. PACCAR’s dividend payout ratio is currently 13.79%.

PACCAR Profile

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.