Ritholtz Wealth Management Sells 141 Shares of PACCAR Inc (NASDAQ:PCAR)

Ritholtz Wealth Management lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,548 shares of the company’s stock after selling 141 shares during the period. Ritholtz Wealth Management’s holdings in PACCAR were worth $785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in PACCAR during the 2nd quarter valued at $26,000. Grove Bank & Trust raised its stake in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the last quarter. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the third quarter worth about $50,000. Ashton Thomas Securities LLC bought a new stake in shares of PACCAR in the third quarter worth about $52,000. Finally, AdvisorNet Financial Inc increased its holdings in PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after purchasing an additional 391 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was 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 of the company’s stock, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 in the last ninety days. 2.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus price target of $120.13.

PACCAR Trading Up 0.8 %

NASDAQ PCAR opened at $110.33 on Monday. The stock’s fifty day moving average price is $111.10 and its 200-day moving average price is $104.05. 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 $57.85 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.72 and a beta of 0.93. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during 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% compared to the same quarter last year. During the same period last year, the business earned $2.34 EPS. As a group, equities analysts forecast that PACCAR Inc will post 7.92 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 13.41%.

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.