Easterly Investment Partners LLC Trims Position in PACCAR Inc (NASDAQ:PCAR)

Easterly Investment Partners LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 64.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,275 shares of the company’s stock after selling 13,113 shares during the period. Easterly Investment Partners LLC’s holdings in PACCAR were worth $901,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. PSI Advisors LLC purchased a new stake in shares of PACCAR in the first quarter valued at $25,000. AdvisorNet Financial Inc boosted its stake in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co acquired a new position in shares of PACCAR during the 1st quarter valued at about $29,000. Finally, Rise Advisors LLC acquired a new position in shares of PACCAR during the 1st quarter valued at about $31,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Up 0.3 %

Shares of PCAR traded up $0.26 during mid-day trading on Wednesday, reaching $101.60. 748,447 shares of the stock traded hands, compared to its average volume of 2,514,001. The firm has a market cap of $53.25 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.21 and a beta of 0.92. The stock has a fifty day simple moving average of $106.11 and a 200 day simple moving average of $108.01. 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 12-month low of $80.94 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 EPS. Sell-side analysts expect that PACCAR Inc will post 8.37 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is currently 12.45%.

Analyst Ratings Changes

PCAR has been the subject of a number of recent analyst reports. Truist Financial lowered their target price on shares of PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group boosted their price objective 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. cut their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.92.

Insider Buying and Selling at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction that occurred 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 completion of 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 can be accessed through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was 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. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 in the last 90 days. 2.02% of the stock is owned by corporate insiders.

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.