PACCAR Inc (NASDAQ:PCAR) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.8% during the second quarter, Holdings Channel reports. The firm owned 2,542 shares of the company’s stock after selling 276 shares during the quarter. D.B. Root & Company LLC’s holdings in PACCAR were worth $262,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. PSI Advisors LLC purchased a new stake in shares of PACCAR in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new stake in PACCAR during the first quarter valued at $27,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR during the first quarter valued at $27,000. Riverview Trust Co purchased a new position in PACCAR in the first quarter valued at about $29,000. Finally, Rise Advisors LLC acquired a new position in PACCAR in the 1st quarter worth about $31,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.7 %

PACCAR stock opened at $92.17 on Tuesday. The firm has a market capitalization of $48.32 billion, a PE ratio of 9.56, a PEG ratio of 1.42 and a beta of 0.92. The business’s 50-day simple moving average is $102.52 and its 200-day simple moving average is $108.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

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

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Analyst Ratings Changes

Several brokerages recently commented on PCAR. Raymond James initiated coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial reduced their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group raised 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. Finally, Citigroup decreased their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $112.91.

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.