Leonard Rickey Investment Advisors P.L.L.C. Cuts Holdings in PACCAR Inc (NASDAQ:PCAR)

Leonard Rickey Investment Advisors P.L.L.C. reduced its position in PACCAR Inc (NASDAQ:PCAR) by 10.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,058 shares of the company’s stock after selling 249 shares during the period. Leonard Rickey Investment Advisors P.L.L.C.’s holdings in PACCAR were worth $255,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after purchasing an additional 16,360 shares in the last quarter. abrdn plc increased its stake in PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after purchasing an additional 89,359 shares in the last quarter. Pacer Advisors Inc. increased its stake in PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after purchasing an additional 16,390 shares in the last quarter. California State Teachers Retirement System grew its holdings in PACCAR by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after buying an additional 9,978 shares during the last quarter. Finally, Nilsine Partners LLC acquired a new stake in PACCAR during the 4th quarter valued at $1,337,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lowered their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Truist Financial lowered their target price on PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday. The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Raymond James assumed coverage on PACCAR in a report on Friday. They set a “market perform” rating on the stock. Finally, StockNews.com cut PACCAR from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $113.92.

PACCAR Trading Down 0.9 %

Shares of PCAR traded down $0.87 during trading hours on Tuesday, hitting $100.97. The stock had a trading volume of 963,713 shares, compared to its average volume of 2,525,042. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm has a market cap of $52.92 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.23 and a beta of 0.92. The company’s fifty day simple moving average is $107.60 and its 200 day simple moving average is $107.77. PACCAR Inc has a 12-month low of $80.91 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $2.25 EPS. Equities research analysts forecast that PACCAR Inc will post 8.35 EPS for the current fiscal 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 given a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

PACCAR 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.