The Paccar Inc. (PCAR) Shares Sold by the PNC Financial Services Group Inc. – BangaloreWeekly


PNC Financial Services Group Inc. decreased its stake in Paccar Inc. (NASDAQ:PCAR) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,148 shares of the company’s stock after selling 254 shares during the period. PNC Financial Services Group Inc.’s holdings in Paccar were worth $1,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors increased its position in shares of Paccar by 3.9% in the second quarter. Capital World Investors now owns 12,005,500 shares of the company’s stock valued at $622,725,000 after buying an additional 453,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Paccar by 3.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,520,368 shares of the company’s stock valued at $597,561,000 after buying an additional 377,073 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Paccar by 4.4% in the second quarter. BlackRock Fund Advisors now owns 9,130,432 shares of the company’s stock valued at $473,596,000 after buying an additional 381,482 shares in the last quarter. BlackRock Group LTD increased its position in shares of Paccar by 6.9% in the second quarter. BlackRock Group LTD now owns 4,030,270 shares of the company’s stock valued at $209,049,000 after buying an additional 260,247 shares in the last quarter. Finally, FMR LLC increased its position in shares of Paccar by 11.0% in the second quarter. FMR LLC now owns 2,229,899 shares of the company’s stock valued at $115,665,000 after buying an additional 221,771 shares in the last quarter. Institutional investors own 60.20% of the company’s stock.

Paccar Inc. (NASDAQ:PCAR) traded up 0.45% during trading on Friday, hitting $65.43. The stock had a trading volume of 1,140,854 shares. Paccar Inc. has a 52 week low of $43.46 and a 52 week high of $68.50. The stock has a market capitalization of $22935.64 billion, a P/E ratio of 39.90 and a beta of 1.34. The company has a 50-day moving average of $62.56 and a 200-day moving average of $57.97.

Paccar (NASDAQ:PCAR) last released its earnings results on Tuesday, October 25th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by $0.01. Paccar had a net margin of 3.41% and a return on equity of 20.96%. The business earned $4.25 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The business’s revenue was down 12.3% on a year-over-year basis. On average, equities analysts expect that Paccar Inc. will post $3.90 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, February 10th. Paccar’s dividend payout ratio (DPR) is 58.54%.

PCAR has been the subject of several research analyst reports. Zacks Investment Research upgraded Paccar from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. JPMorgan Chase & Co. raised Paccar from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $60.00 in a report on Friday, December 9th. Deutsche Bank AG began coverage on Paccar in a report on Tuesday, September 6th. They set a “hold” rating and a $63.00 price target for the company. TheStreet cut Paccar from a “buy” rating to a “hold” rating in a report on Tuesday, October 25th. Finally, began coverage on Paccar in a report on Friday, September 30th. They set an “outperform” rating and a $65.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.43.

In other Paccar news, insider T. Kyle Quinn sold 3,024 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $54.80, for a total transaction of $165,715.20. Following the completion of the transaction, the insider now directly owns 16,672 shares of the company’s stock, valued at $913,625.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark C. Pigott sold 112,266 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $55.47, for a total value of $6,227,395.02. Following the transaction, the insider now directly owns 2,998,711 shares of the company’s stock, valued at $166,338,499.17. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

About Paccar

PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.

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