PACCAR Inc (NASDAQ:PCAR) Stock Holdings Lowered by Ballentine Partners LLC

Ballentine Partners LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 10.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,876 shares of the company’s stock after selling 690 shares during the period. Ballentine Partners LLC’s holdings in PACCAR were worth $580,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. Quarry LP purchased a new position in PACCAR in the 2nd quarter worth about $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the first quarter valued at approximately $27,000. Meeder Asset Management Inc. lifted its position in shares of 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC boosted its stake in PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related 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 transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Up 1.0 %

PACCAR stock opened at $105.90 on Monday. The company has a market capitalization of $55.51 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The firm’s fifty day simple moving average is $99.39 and its 200-day simple moving average is $103.09. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the company posted $2.34 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc will post 8.07 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is 12.45%.

Analyst Ratings Changes

PCAR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Truist Financial raised their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Evercore ISI dropped their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective 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. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.18.

PACCAR 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.