TD Asset Management Inc. Sells 230,074 Shares of PACCAR Inc (NASDAQ:PCAR)

TD Asset Management Inc. cut its stake in PACCAR Inc (NASDAQ:PCAR) by 9.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,286,852 shares of the company’s stock after selling 230,074 shares during the period. TD Asset Management Inc.’s holdings in PACCAR were worth $237,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Zevenbergen Capital Investments LLC lifted its stake in shares of PACCAR by 0.7% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 23,445 shares of the company’s stock valued at $2,439,000 after buying an additional 170 shares during the period. LPL Financial LLC raised its holdings in PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after acquiring an additional 12,143 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in PACCAR in the 4th quarter valued at approximately $32,859,000. Sei Investments Co. lifted its position in shares of PACCAR by 3.6% in the 4th quarter. Sei Investments Co. now owns 126,268 shares of the company’s stock worth $13,134,000 after acquiring an additional 4,422 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of PACCAR by 15.8% during the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock worth $65,675,000 after purchasing an additional 86,215 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Up 1.6 %

NASDAQ PCAR opened at $98.64 on Tuesday. The stock’s 50 day simple moving average is $106.10 and its 200 day simple moving average is $106.60. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The firm has a market cap of $51.77 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.34%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of recent research reports. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and cut their target price for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

Insiders Place Their Bets

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

About PACCAR

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.