PACCAR Inc (NASDAQ:PCAR) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its position in PACCAR Inc (NASDAQ:PCAR) by 4.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,944 shares of the company’s stock after selling 194 shares during the period. SVB Wealth LLC’s holdings in PACCAR were worth $489,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PSI Advisors LLC acquired a new stake in PACCAR in the first quarter valued at approximately $25,000. YHB Investment Advisors Inc. bought a new stake in PACCAR in the first quarter valued at about $27,000. Riverview Trust Co acquired a new position in PACCAR in the first quarter worth about $29,000. Rise Advisors LLC acquired a new stake in PACCAR in the 1st quarter valued at $31,000. Finally, AdvisorNet Financial Inc lifted its holdings in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR stock traded down $0.27 during midday trading on Tuesday, hitting $98.05. The company’s stock had a trading volume of 273,230 shares, compared to its average volume of 2,615,344. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a quick ratio of 1.43, a current ratio of 1.81 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $105.19 and a two-hundred day moving average of $108.74. The firm has a market capitalization of $51.39 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. On average, analysts expect that PACCAR Inc will post 8.11 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.22%. PACCAR’s payout ratio is 12.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PCAR shares. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Raymond James began coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating 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. Citigroup began coverage on PACCAR in a research report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price objective on the stock. Finally, Truist Financial dropped their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $114.27.

Insider Buying and Selling

In other news, VP Michael K. Walton sold 9,123 shares of the business’s 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 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. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now 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 this link. Also, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction 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 valued at $4,779,241 over the last 90 days. Insiders own 2.02% of the company’s stock.

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.