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

Stevens Capital Management LP cut its stake in PACCAR Inc (NASDAQ:PCAR) by 55.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,446 shares of the company’s stock after selling 3,086 shares during the period. Stevens Capital Management LP’s holdings in PACCAR were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. DAVENPORT & Co LLC purchased a new stake in PACCAR during the third quarter valued at about $245,000. Meridian Wealth Management LLC lifted its holdings in shares of PACCAR by 101.6% during the third quarter. Meridian Wealth Management LLC now owns 6,668 shares of the company’s stock valued at $567,000 after acquiring an additional 3,361 shares during the period. Czech National Bank lifted its holdings in shares of PACCAR by 47.7% during the third quarter. Czech National Bank now owns 91,398 shares of the company’s stock valued at $7,771,000 after acquiring an additional 29,536 shares during the period. Ballentine Partners LLC increased its stake in shares of PACCAR by 15.1% in the third quarter. Ballentine Partners LLC now owns 4,940 shares of the company’s stock valued at $420,000 after buying an additional 648 shares in the last quarter. Finally, Uncommon Cents Investing LLC increased its stake in shares of PACCAR by 31.3% in the third quarter. Uncommon Cents Investing LLC now owns 7,521 shares of the company’s stock valued at $639,000 after buying an additional 1,795 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 0.6 %

PACCAR stock traded down $0.66 during mid-day trading on Friday, reaching $111.96. The stock had a trading volume of 2,802,497 shares, compared to its average volume of 2,333,385. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The stock’s 50-day simple moving average is $116.49 and its 200-day simple moving average is $101.60. The firm has a market capitalization of $58.67 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.76 earnings per share. On average, sell-side analysts forecast that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.96%. PACCAR’s payout ratio is 12.31%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the sale, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,293 shares of company stock valued at $14,581,337. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of recent analyst reports. Truist Financial assumed coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. The Goldman Sachs Group boosted their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

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.