Fifth Third Wealth Advisors LLC Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Fifth Third Wealth Advisors LLC lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,434 shares of the company’s stock after selling 100 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in PACCAR were worth $438,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PCAR. Quarry LP acquired a new stake in PACCAR in the 2nd quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter valued at $27,000. Meeder Asset Management Inc. grew its stake in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR in the 2nd quarter valued at $36,000. Finally, Fortitude Family Office LLC grew its stake in PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 0.4 %

Shares of PCAR stock opened at $109.99 on Thursday. The company’s 50-day moving average price is $105.00 and its 200-day moving average price is $102.90. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market cap of $57.67 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.76 and a beta of 0.89. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 EPS. As a group, equities analysts predict that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.09%. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCAR. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $117.64.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

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.