Insight Inv LLC Sells 250 Shares of PACCAR Inc. $PCAR

Insight Inv LLC cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,797 shares of the company’s stock after selling 250 shares during the quarter. Insight Inv LLC’s holdings in PACCAR were worth $1,502,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after purchasing an additional 240 shares during the period. Alpine Bank Wealth Management bought a new position in shares of PACCAR during the first quarter worth approximately $29,000. Bayforest Capital Ltd increased its holdings in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Accent Capital Management LLC bought a new position in shares of PACCAR during the first quarter worth approximately $40,000. Finally, JFS Wealth Advisors LLC increased its holdings in shares of PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 174 shares during the period. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PCAR shares. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Truist Financial set a $97.00 target price on PACCAR and gave the company a “hold” rating in a research report on Wednesday. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Evercore ISI set a $114.00 target price on PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.

PACCAR Stock Performance

Shares of PACCAR stock opened at $95.73 on Thursday. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The firm has a market capitalization of $50.27 billion, a P/E ratio of 16.39, a P/E/G ratio of 3.94 and a beta of 0.94. The company’s 50 day moving average price is $98.87 and its two-hundred day moving average price is $95.62.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the business posted $2.13 earnings per share. The company’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s payout ratio is 22.60%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

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.