Trading Report: The Paccar Inc. (PCAR) Position Held by Whittier Trust Co.

The Paccar Inc. (PCAR) Position Held by Whittier Trust Co.

Whittier Trust Co. continued to hold its stake in Paccar Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel reports. The institutional investor owned 2,654 shares of the company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Paccar were worth $138,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PCAR. LMR Partners LLP acquired a new stake in Paccar during the second quarter worth about $553,000. ING Groep NV raised its stake in Paccar by 58.6% in the second quarter. ING Groep NV now owns 10,319 shares of the company’s stock worth $535,000 after buying an additional 3,813 shares during the period. Evergreen Capital Management LLC acquired a new stake in Paccar during the second quarter worth about $281,000. Traynor Capital Management Inc. raised its stake in Paccar by 9.6% in the second quarter. Traynor Capital Management Inc. now owns 7,390 shares of the company’s stock worth $373,000 after buying an additional 646 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in Paccar by 9.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 25,324 shares of the company’s stock worth $1,314,000 after buying an additional 2,104 shares during the period. Institutional investors own 62.25% of the company’s stock.

Shares of Paccar Inc. (NASDAQ:PCAR) traded down 0.02% during mid-day trading on Monday, hitting $56.81. 986,128 shares of the stock traded hands. The firm’s 50 day moving average price is $58.00 and its 200-day moving average price is $56.29. Paccar Inc. has a 12-month low of $43.46 and a 12-month high of $60.86. The stock has a market cap of $19.91 billion, a P/E ratio of 30.15 and a beta of 1.51.

Paccar (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The firm’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. Analysts predict that Paccar Inc. will post $3.98 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.69%. Paccar’s dividend payout ratio (DPR) is 51.34%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Paccar from a “sell” rating to a “hold” rating in a report on Thursday. Barclays PLC raised their price objective on shares of Paccar from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Wednesday, October 12th. Credit Agricole SA began coverage on shares of Paccar in a report on Friday, September 30th. They issued an “outperform” rating and a $65.00 price objective on the stock. Deutsche Bank AG began coverage on shares of Paccar in a report on Tuesday, September 6th. They issued a “hold” rating and a $63.00 price objective on the stock. Finally, Jefferies Group raised their price objective on shares of Paccar from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $56.33.

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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