ING Groep NV Sells 41,354 Shares of PACCAR Inc (NASDAQ:PCAR)

ING Groep NV trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 35.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,708 shares of the company’s stock after selling 41,354 shares during the quarter. ING Groep NV’s holdings in PACCAR were worth $7,570,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Security National Bank boosted its position in shares of PACCAR by 4.2% during the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after buying an additional 93 shares during the period. Brookstone Capital Management lifted its stake in PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after acquiring an additional 94 shares in the last quarter. CVA Family Office LLC boosted its position in PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after acquiring an additional 97 shares during the last quarter. Omnia Family Wealth LLC grew its stake in shares of PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after acquiring an additional 98 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent research reports. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $116.55.

PACCAR Trading Down 2.4 %

Shares of PACCAR stock opened at $112.26 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a market capitalization of $58.86 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.83 and a beta of 0.89. The business has a fifty day simple moving average of $103.65 and a two-hundred day simple moving average of $102.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 EPS. Research analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

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.