Comerica Securities Inc. Decreases Stake in PACCAR Inc (PCAR)

Comerica Securities Inc. lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 40.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,996 shares of the company’s stock after selling 5,388 shares during the quarter. Comerica Securities Inc.’s holdings in PACCAR were worth $545,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Vigilant Capital Management LLC acquired a new position in PACCAR during the 2nd quarter worth approximately $105,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in PACCAR by 5,888.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock worth $126,000 after acquiring an additional 2,002 shares in the last quarter. Amussen Hunsaker Associates LLC acquired a new position in PACCAR during the 2nd quarter worth approximately $132,000. Valeo Financial Advisors LLC lifted its position in PACCAR by 85.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock worth $123,000 after acquiring an additional 990 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new position in PACCAR during the 3rd quarter worth approximately $178,000. Institutional investors and hedge funds own 61.33% of the company’s stock.

In other PACCAR news, insider Mark C. Pigott sold 194,004 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $58.84, for a total value of $11,415,195.36. Following the transaction, the insider now directly owns 3,080,449 shares of the company’s stock, valued at approximately $181,253,619.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David J. Danforth sold 651 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the transaction, the vice president now directly owns 5,453 shares in the company, valued at $324,126.32. The disclosure for this sale can be found here. Corporate insiders own 2.64% of the company’s stock.

Several equities analysts recently commented on PCAR shares. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Thursday, October 25th. Credit Suisse Group reduced their price target on PACCAR from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 25th. ValuEngine lowered PACCAR from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research report on Friday, October 5th. Finally, Morgan Stanley set a $58.00 price target on PACCAR and gave the stock a “sell” rating in a research report on Wednesday, October 24th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $68.73.

Shares of PCAR opened at $58.36 on Friday. PACCAR Inc has a 52-week low of $53.95 and a 52-week high of $79.69. The company has a market capitalization of $20.81 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a current ratio of 2.63, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the company posted $1.14 EPS. PACCAR’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that PACCAR Inc will post 6.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, November 9th. PACCAR’s payout ratio is 26.29%.

COPYRIGHT VIOLATION NOTICE: “Comerica Securities Inc. Decreases Stake in PACCAR Inc (PCAR)” was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://sportsperspectives.com/2018/11/10/comerica-securities-inc-decreases-stake-in-paccar-inc-pcar.html.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

Further Reading: Swap

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCAR).

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply