Amalgamated Bank Sells 4,086 Shares of PACCAR Inc (NASDAQ:PCAR)

Amalgamated Bank lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 105,314 shares of the company’s stock after selling 4,086 shares during the period. Amalgamated Bank’s holdings in PACCAR were worth $10,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 during the last quarter. Fisher Asset Management LLC lifted its position in shares of PACCAR by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after purchasing an additional 83,444 shares in the last quarter. Capital International Investors grew its stake in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of PACCAR by 1.5% in the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after purchasing an additional 48,784 shares in the last quarter. Finally, First Trust Advisors LP raised its position in PACCAR by 0.9% in the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after purchasing an additional 23,394 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $96.32 on Thursday. The firm’s 50 day simple moving average is $97.11 and its 200 day simple moving average is $106.34. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a market capitalization of $50.49 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 1.47 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.33 earnings per share. As a group, sell-side analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.25%. PACCAR’s dividend payout ratio is presently 12.45%.

Analysts Set New Price Targets

A number of research analysts have commented on PCAR shares. Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Raymond James began coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Evercore ISI dropped their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup lowered their price target on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average price target of $112.73.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR 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.