Alps Advisors Inc. Lowers Stock Position in PACCAR Inc. $PCAR

Alps Advisors Inc. trimmed its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 44.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,888 shares of the company’s stock after selling 14,975 shares during the period. Alps Advisors Inc.’s holdings in PACCAR were worth $1,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its position in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Private Wealth Management Group LLC raised its holdings in shares of PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 211 shares during the period. AlphaQuest LLC acquired a new position in PACCAR during the 3rd quarter worth approximately $38,000. Hantz Financial Services Inc. boosted its holdings in PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after acquiring an additional 134 shares during the period. Finally, Westside Investment Management Inc. grew its position in PACCAR by 100.0% in the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $127.07 on Wednesday. The stock has a market capitalization of $66.74 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. The business’s fifty day moving average price is $117.01 and its 200 day moving average price is $105.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.70 and a quick ratio of 1.42. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The firm’s revenue was down 15.1% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. PACCAR’s dividend payout ratio is 29.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PCAR shares. Citigroup boosted their target price on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. UBS Group set a $103.00 price objective on shares of PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company set a $119.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Truist Financial boosted their price target on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Finally, Sanford C. Bernstein set a $138.00 price objective on PACCAR and gave the company an “outperform” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.50.

Insider Buying and Selling at PACCAR

In other PACCAR news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the transaction, the executive vice president directly owned 12,592 shares of the company’s stock, valued at approximately $1,593,265.76. This trade represents a 43.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 130,905 shares of company stock worth $16,582,144. Corporate insiders own 2.02% of the company’s stock.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.