Man Group plc Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Man Group plc lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,872 shares of the company’s stock after selling 1,788 shares during the period. Man Group plc’s holdings in PACCAR were worth $8,165,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. California State Teachers Retirement System grew its position in shares of PACCAR by 1.4% in the first quarter. California State Teachers Retirement System now owns 620,808 shares of the company’s stock valued at $57,685,000 after purchasing an additional 8,581 shares during the period. Ameritas Investment Company LLC purchased a new stake in shares of PACCAR in the first quarter valued at $25,000. Great West Life Assurance Co. Can grew its position in shares of PACCAR by 3.6% in the first quarter. Great West Life Assurance Co. Can now owns 297,388 shares of the company’s stock valued at $27,455,000 after purchasing an additional 10,467 shares during the period. AQR Capital Management LLC grew its position in shares of PACCAR by 32.6% in the first quarter. AQR Capital Management LLC now owns 1,181,618 shares of the company’s stock valued at $109,796,000 after purchasing an additional 290,732 shares during the period. Finally, Veritable L.P. grew its position in shares of PACCAR by 13.7% in the first quarter. Veritable L.P. now owns 13,060 shares of the company’s stock valued at $1,214,000 after purchasing an additional 1,577 shares during the period. 63.77% of the stock is owned by institutional investors and hedge funds.

In related news, CEO R Preston Feight sold 4,770 shares of the business’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $94.06, for a total value of $448,666.20. Following the transaction, the chief executive officer now owns 52,460 shares in the company, valued at $4,934,387.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.05% of the company’s stock.

A number of research firms have issued reports on PCAR. JPMorgan Chase & Co. raised PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 price target for the company in a research report on Tuesday, July 13th. BMO Capital Markets boosted their price target on PACCAR from $90.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, May 4th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lowered their price target on PACCAR from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Wednesday, July 14th. Credit Suisse Group boosted their price target on PACCAR from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, April 28th. Finally, Morgan Stanley boosted their price target on PACCAR from $102.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, April 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $100.36.

NASDAQ:PCAR opened at $88.15 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.45 and a current ratio of 2.64. PACCAR Inc has a one year low of $80.36 and a one year high of $103.19. The stock has a 50-day simple moving average of $90.08. The firm has a market capitalization of $30.60 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 27th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.08. PACCAR had a return on equity of 13.72% and a net margin of 7.26%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts expect that PACCAR Inc will post 5.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 8th. Investors of record on Wednesday, August 18th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, August 17th. PACCAR’s dividend payout ratio (DPR) is 36.36%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, 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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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