PACCAR Inc (NASDAQ:PCAR) Shares Sold by Leeward Financial Partners LLC

Leeward Financial Partners LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 15.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 18,603 shares of the company’s stock after selling 3,291 shares during the period. Leeward Financial Partners LLC’s holdings in PACCAR were worth $2,305,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of 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 during the last quarter. abrdn plc increased its position in shares of 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 during the last quarter. Pacer Advisors Inc. increased its position in shares of 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 during the last quarter. California State Teachers Retirement System increased its position in shares of PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after purchasing an additional 9,978 shares during the last quarter. Finally, Nilsine Partners LLC purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $1,337,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now 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 quarter, insiders sold 45,040 shares of company stock worth $4,779,241. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PCAR. StockNews.com downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Citigroup began coverage on shares of PACCAR in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 target price on the stock. Truist Financial dropped their target price on shares of PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday. Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Finally, Raymond James assumed coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus target price of $113.92.

PACCAR Price Performance

Shares of NASDAQ PCAR traded up $1.09 during midday trading on Wednesday, hitting $102.00. The company had a trading volume of 1,860,059 shares, compared to its average volume of 2,533,545. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $80.91 and a twelve month high of $125.50. The business has a 50-day simple moving average of $107.14 and a two-hundred day simple moving average of $107.84. The firm has a market capitalization of $53.46 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.25 earnings per share. Equities research analysts anticipate that PACCAR Inc will post 8.34 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is presently 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.