PACCAR Inc. $PCAR Shares Sold by Lifeworks Advisors LLC

Lifeworks Advisors LLC trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,282 shares of the company’s stock after selling 6,129 shares during the quarter. PACCAR accounts for about 1.0% of Lifeworks Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Lifeworks Advisors LLC’s holdings in PACCAR were worth $8,002,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in PACCAR in the fourth quarter valued at about $27,000. MCF Advisors LLC increased its holdings in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares during the last quarter. Steph & Co. acquired a new position in shares of PACCAR in the 1st quarter valued at approximately $29,000. Elyxium Wealth LLC acquired a new position in shares of PACCAR in the 4th quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of PACCAR during the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $124.57 on Monday. The firm has a market cap of $65.56 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.16 and a beta of 0.97. The stock has a 50 day moving average of $116.38 and a 200-day moving average of $119.19. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. As a group, analysts forecast that PACCAR Inc. will post 5.58 EPS for the current 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. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s payout ratio is presently 29.79%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PCAR shares. Truist Financial raised their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. BNP Paribas Exane assumed coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Citigroup reiterated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $122.45.

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.