Eagle Bay Advisors LLC Sells 1,683 Shares of PACCAR Inc (NASDAQ:PCAR)

Eagle Bay Advisors LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 37.1% in the third quarter, HoldingsChannel.com reports. The firm owned 2,855 shares of the company’s stock after selling 1,683 shares during the period. Eagle Bay Advisors LLC’s holdings in PACCAR were worth $282,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Miracle Mile Advisors LLC raised its stake in PACCAR by 3.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after purchasing an additional 91 shares in the last quarter. Security National Bank raised its stake in PACCAR by 4.2% during the second quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after purchasing an additional 93 shares in the last quarter. Brookstone Capital Management raised its stake in PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after purchasing an additional 94 shares in the last quarter. CVA Family Office LLC raised its stake in PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares in the last quarter. Finally, Graypoint LLC raised its stake in PACCAR by 2.9% during the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after purchasing an additional 99 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PCAR has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI reduced their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Truist Financial upped their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $114.18.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

Shares of PACCAR stock traded up $0.64 during midday trading on Wednesday, hitting $105.43. The company had a trading volume of 1,058,694 shares, compared to its average volume of 2,634,749. The stock has a market cap of $55.27 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.70 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $98.78 and a 200 day simple moving average of $103.41. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period last year, the firm posted $2.34 EPS. PACCAR’s revenue was down 5.2% on a year-over-year basis. As a group, analysts predict that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 12.71%.

About PACCAR

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.