Fifth Third Wealth Advisors LLC Trims Position in PACCAR Inc (NASDAQ:PCAR)

Fifth Third Wealth Advisors LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,434 shares of the company’s stock after selling 100 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in PACCAR were worth $438,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Legal & General Group Plc grew its holdings in PACCAR by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after acquiring an additional 242,435 shares in the last quarter. Capital International Investors grew its holdings in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. grew its holdings in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Finally, National Pension Service grew its holdings in PACCAR by 4.3% during the 3rd quarter. National Pension Service now owns 1,639,539 shares of the company’s stock worth $161,790,000 after acquiring an additional 68,064 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 0.4 %

PCAR stock opened at $109.99 on Thursday. The firm has a 50 day moving average of $105.00 and a 200 day moving average of $102.90. The stock has a market capitalization of $57.67 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.76 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the business earned $2.34 EPS. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 13.41%.

Wall Street Analyst Weigh In

PCAR has been the topic 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 lowered their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.64.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

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.