PACCAR Inc (NASDAQ:PCAR) Shares Sold by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 31.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,857 shares of the company’s stock after selling 1,289 shares during the quarter. AlphaCentric Advisors LLC’s holdings in PACCAR were worth $294,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. PSI Advisors LLC purchased a new stake in shares of PACCAR in the first quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the first quarter worth about $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR in the first quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter worth about $29,000. Finally, Rise Advisors LLC purchased a new position in PACCAR in the first quarter valued at about $31,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PACCAR stock traded down $0.59 on Monday, reaching $95.87. 2,218,175 shares of the company were exchanged, compared to its average volume of 2,632,283. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The company’s 50-day moving average is $100.31 and its two-hundred day moving average is $108.06. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.47 and a beta of 0.92. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is currently 12.45%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup reduced their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $112.73.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.02% of the stock is owned by insiders.

PACCAR Profile

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.