MML Investors Services LLC Has $4.38 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

MML Investors Services LLC lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 4.7% during the third quarter, Holdings Channel.com reports. The fund owned 44,392 shares of the company’s stock after selling 2,198 shares during the period. MML Investors Services LLC’s holdings in PACCAR were worth $4,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PCAR. Quarry LP acquired a new position in shares of PACCAR during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. increased its holdings in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR during the second quarter worth $36,000. ORG Partners LLC lifted its stake in PACCAR by 7,560.0% in the second quarter. ORG Partners LLC now owns 383 shares of the company’s stock valued at $39,000 after acquiring an additional 378 shares during the last quarter. Finally, Grove Bank & Trust grew its position in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.2 %

PCAR stock opened at $113.01 on Friday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a market capitalization of $59.25 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The company’s 50-day simple moving average is $110.95 and its 200 day simple moving average is $103.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (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 firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Buying and Selling at PACCAR

In other news, 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 transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last three months. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCAR. Morgan Stanley dropped their target price 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 raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Citigroup increased their price target on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $118.25.

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.