Atticus Wealth Management LLC Sells 525 Shares of PACCAR Inc (NASDAQ:PCAR)

Atticus Wealth Management LLC lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 43.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 696 shares of the company’s stock after selling 525 shares during the quarter. Atticus Wealth Management LLC’s holdings in PACCAR were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. OneAscent Wealth Management LLC bought a new stake in PACCAR during the 1st quarter worth about $225,000. Indiana Trust & Investment Management CO grew its holdings in PACCAR by 337.9% during the 1st quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock worth $67,000 after acquiring an additional 419 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of PACCAR in the 1st quarter valued at about $3,605,000. Vanguard Capital Wealth Advisors bought a new position in shares of PACCAR in the 1st quarter valued at about $213,000. Finally, RMR Wealth Builders boosted its stake in shares of PACCAR by 3.8% in the 1st quarter. RMR Wealth Builders now owns 8,920 shares of the company’s stock valued at $1,105,000 after purchasing an additional 329 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.0 %

Shares of NASDAQ PCAR traded down $1.03 during midday trading on Friday, reaching $102.94. The company’s stock had a trading volume of 11,403,453 shares, compared to its average volume of 2,603,300. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a fifty-two week low of $80.64 and a fifty-two week high of $125.50. The stock has a market capitalization of $53.96 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.59 and a beta of 0.94. The stock has a 50 day simple moving average of $107.60 and a 200-day simple moving average of $107.70.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the business earned $2.25 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that PACCAR Inc will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Insider Activity at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PCAR shares. StockNews.com lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Citigroup initiated coverage on shares of PACCAR in a research report on Wednesday. They issued a “neutral” rating and a $115.00 price target on the stock. Finally, Truist Financial reiterated a “hold” rating and issued a $121.00 price target (up from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.38.

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.