International Assets Investment Management LLC Lowers Stake in PACCAR Inc. $PCAR

International Assets Investment Management LLC reduced its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 20.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,792 shares of the company’s stock after selling 708 shares during the quarter. International Assets Investment Management LLC’s holdings in PACCAR were worth $265,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. boosted its stake in shares of PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Applied Capital LLC FL boosted its stake in shares of PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock valued at $2,455,000 after purchasing an additional 124 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company’s stock valued at $4,390,000 after purchasing an additional 130 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock valued at $228,000 after purchasing an additional 130 shares during the period. Finally, Cidel Asset Management Inc. boosted its stake in shares of PACCAR by 5.8% during the first quarter. Cidel Asset Management Inc. now owns 3,172 shares of the company’s stock valued at $309,000 after purchasing an additional 174 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR stock opened at $99.38 on Friday. The firm has a market cap of $52.18 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 4.13 and a beta of 0.94. The firm has a 50-day simple moving average of $98.48 and a two-hundred day simple moving average of $95.61. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 1.82.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 earnings per share. On average, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on PCAR shares. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research note on Tuesday. Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research note on Tuesday. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.59.

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.