Hexagon Capital Partners LLC Has $182,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Hexagon Capital Partners LLC lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 18.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,469 shares of the company’s stock after selling 342 shares during the quarter. Hexagon Capital Partners LLC’s holdings in PACCAR were worth $182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Miracle Mile Advisors LLC lifted its stake in PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after acquiring an additional 91 shares during the last quarter. Optas LLC acquired a new stake in PACCAR in the 1st quarter valued at about $240,000. Founders Financial Securities LLC bought a new position in PACCAR during the first quarter worth about $748,000. OneAscent Wealth Management LLC acquired a new position in PACCAR during the first quarter worth approximately $225,000. Finally, Indiana Trust & Investment Management CO raised its stake in PACCAR by 337.9% in the first quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock valued at $67,000 after buying an additional 419 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

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

PACCAR Trading Down 1.1 %

Shares of NASDAQ:PCAR opened at $101.84 on Tuesday. The business’s 50 day simple moving average is $107.60 and its 200 day simple moving average is $107.77. PACCAR Inc has a 1 year low of $80.91 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The company has a market capitalization of $53.38 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.23 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the firm posted $2.25 EPS. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that PACCAR Inc will post 8.35 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.18%. PACCAR’s dividend payout ratio is presently 12.45%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCAR. The Goldman Sachs Group increased their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Truist Financial reaffirmed a “hold” rating and set a $121.00 target price (up previously from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. Royal Bank of Canada initiated coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Finally, Citigroup began coverage on PACCAR in a report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR currently 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.