Sentry Investment Management LLC Has $234,000 Stock Position in PACCAR Inc (NASDAQ:PCAR)

Sentry Investment Management LLC lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 17.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,271 shares of the company’s stock after selling 465 shares during the quarter. Sentry Investment Management LLC’s holdings in PACCAR were worth $234,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PCAR. State Board of Administration of Florida Retirement System raised its stake in PACCAR by 4.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares during the period. BDF Gestion purchased a new stake in PACCAR in the 2nd quarter worth about $2,862,000. California State Teachers Retirement System boosted its position in PACCAR by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after acquiring an additional 9,978 shares during the period. Advisory Services Network LLC boosted its position in PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in PACCAR by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $94.25 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The stock has a market capitalization of $49.40 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.44 and a beta of 0.91. The business has a 50-day moving average of $97.64 and a two-hundred day moving average of $106.90. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two 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 for the quarter, missing the consensus estimate 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%. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. On average, equities research analysts predict that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 1.27%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Insider Activity at PACCAR

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial decreased their target price 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. 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. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Evercore ISI lowered their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $112.73.

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.