Private Advisor Group LLC Sells 430 Shares of PACCAR Inc (NASDAQ:PCAR)

Private Advisor Group LLC decreased its holdings in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,003 shares of the company’s stock after selling 430 shares during the quarter. Private Advisor Group LLC’s holdings in PACCAR were worth $2,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PSI Advisors LLC acquired a new stake in shares of PACCAR during the 1st quarter worth about $25,000. AdvisorNet Financial Inc lifted its position in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of PACCAR during the first quarter worth approximately $27,000. Riverview Trust Co acquired a new position in shares of PACCAR in the first quarter valued at approximately $29,000. Finally, Rise Advisors LLC acquired a new position in shares of PACCAR in the first quarter valued at approximately $31,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Down 1.7 %

Shares of PCAR opened at $100.22 on Monday. The firm has a 50 day simple moving average of $106.46 and a two-hundred day simple moving average of $107.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a one year low of $80.91 and a one year high of $125.50. The company has a market cap of $52.53 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.20 and a beta of 0.92.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the firm earned $2.25 EPS. PACCAR’s revenue was up 2.3% on a year-over-year basis. Research analysts forecast that PACCAR Inc will post 8.34 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is 12.45%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada began coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Citigroup assumed coverage on shares of PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.92.

Get Our Latest Stock Report on PACCAR

About PACCAR

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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