PACCAR Inc (NASDAQ:PCAR) Shares Sold by STF Management LP

STF Management LP trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,264 shares of the company’s stock after selling 398 shares during the quarter. STF Management LP’s holdings in PACCAR were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PCAR. PSI Advisors LLC acquired a new stake in PACCAR in the 1st quarter valued at approximately $25,000. YHB Investment Advisors Inc. acquired a new stake in PACCAR in the 1st quarter valued at approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in PACCAR in the 1st quarter valued at approximately $29,000. Finally, Rise Advisors LLC acquired a new stake in PACCAR in the 1st quarter valued at approximately $31,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $95.70 on Tuesday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The business has a fifty day simple moving average of $97.28 and a 200 day simple moving average of $106.52. The firm has a market cap of $50.17 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 1.47 and a beta of 0.91.

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

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.25%. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. lowered their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI lowered their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup lowered their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Truist Financial lowered their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $112.73.

PACCAR Company 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.