PACCAR Inc (NASDAQ:PCAR) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.8% during the first quarter, HoldingsChannel.com reports. The firm owned 61,680,353 shares of the company’s stock after selling 486,900 shares during the period. Vanguard Group Inc. owned 0.12% of PACCAR worth $7,641,579,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. PSI Advisors LLC acquired a new position in shares of PACCAR in the 1st quarter valued at $25,000. YHB Investment Advisors Inc. acquired a new position in shares of PACCAR in the 1st quarter valued at $27,000. Riverview Trust Co acquired a new position in shares of PACCAR in the 1st quarter valued at $29,000. Rise Advisors LLC acquired a new position in shares of PACCAR in the 1st quarter valued at $31,000. Finally, AdvisorNet Financial Inc increased its position in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PCAR. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Royal Bank of Canada began coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Truist Financial lowered their price target on shares of PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group upped their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $114.67.

PACCAR Price Performance

PCAR stock traded down $2.17 during mid-day trading on Friday, reaching $107.81. The company’s stock had a trading volume of 4,135,834 shares, compared to its average volume of 2,927,436. The stock has a market cap of $56.51 billion, a PE ratio of 11.18, a P/E/G ratio of 1.29 and a beta of 0.92. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company’s 50 day moving average is $105.99 and its two-hundred day moving average is $108.41.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.25 EPS. Equities research analysts expect that PACCAR Inc will post 8.35 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.11%. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Activity

In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by company insiders.

About PACCAR

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.