PACCAR Inc. $PCAR Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 70.8% in the 1st quarter, HoldingsChannel reports. The firm owned 4,158 shares of the company’s stock after selling 10,073 shares during the quarter. Forum Financial Management LP’s holdings in PACCAR were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators grew its position in PACCAR by 9.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after purchasing an additional 80 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of PACCAR by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after buying an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC grew its holdings in PACCAR by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after acquiring an additional 87 shares during the period. Parkside Financial Bank & Trust grew its holdings in PACCAR by 3.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock worth $317,000 after acquiring an additional 87 shares during the period. Finally, Jackson Square Capital LLC raised its position in PACCAR by 3.5% during the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after acquiring an additional 90 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BNP Paribas Exane began coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Truist Financial lifted their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Citigroup reissued a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $122.00.

PACCAR Stock Performance

NASDAQ PCAR opened at $120.12 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The stock’s 50 day simple moving average is $116.74 and its 200-day simple moving average is $118.60. The company has a market cap of $63.22 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s dividend payout ratio is presently 29.79%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.