Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 12.6% during the third quarter, Holdings Channel reports. The fund owned 198,730 shares of the company’s stock after selling 28,723 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PACCAR were worth $13,551,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Valeo Financial Advisors LLC grew its position in shares of PACCAR by 85.5% during the third quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock worth $123,000 after acquiring an additional 990 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of PACCAR by 5,888.2% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock worth $126,000 after acquiring an additional 2,002 shares during the last quarter. Amussen Hunsaker Associates LLC purchased a new position in shares of PACCAR during the second quarter worth approximately $132,000. HighPoint Advisor Group LLC purchased a new position in shares of PACCAR during the third quarter worth approximately $178,000. Finally, Boltwood Capital Management purchased a new position in shares of PACCAR during the third quarter worth approximately $204,000. Institutional investors and hedge funds own 61.26% of the company’s stock.
PCAR has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of PACCAR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Piper Jaffray Companies upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research report on Wednesday, October 24th. Citigroup lowered their price objective on shares of PACCAR from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. Finally, Wolfe Research lowered shares of PACCAR from a “peer perform” rating to an “underperform” rating in a research report on Friday, October 5th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $68.87.
Shares of NASDAQ PCAR opened at $60.05 on Friday. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.90 and a beta of 1.39. PACCAR Inc has a one year low of $53.95 and a one year high of $79.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.44 and a current ratio of 2.63.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 23rd. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.51 by $0.04. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.50 billion. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Analysts forecast that PACCAR Inc will post 6.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.12 annualized dividend and a dividend yield of 1.87%. PACCAR’s payout ratio is currently 26.29%.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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