PACCAR Inc (NASDAQ:PCAR) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.0% during the first quarter, Holdings Channel reports. The firm owned 72,810 shares of the company’s stock after selling 2,217 shares during the quarter. Artemis Investment Management LLP’s holdings in PACCAR were worth $9,016,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PCAR. AdvisorNet Financial Inc raised its holdings in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Riverview Trust Co bought a new position in shares of PACCAR during the first quarter worth about $29,000. Rise Advisors LLC bought a new position in shares of PACCAR during the first quarter worth about $31,000. Bruce G. Allen Investments LLC bought a new position in shares of PACCAR during the fourth quarter worth about $37,000. Finally, ORG Partners LLC grew its position in shares of PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after acquiring an additional 372 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR opened at $102.94 on Friday. The firm has a 50-day moving average price of $107.60 and a 200 day moving average price of $107.63. The firm has a market capitalization of $53.96 billion, a PE ratio of 10.68, a P/E/G ratio of 1.59 and a beta of 0.94. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $80.64 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same quarter last year, the firm posted $2.25 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that PACCAR Inc will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Insider Activity

In other news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,040 shares of company stock worth $4,779,241. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PCAR. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Raymond James began coverage on shares of PACCAR in a research report on Friday. They set a “market perform” rating for the company. Truist Financial restated a “hold” rating and set a $121.00 price target (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $114.38.

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.