PACCAR Inc. $PCAR Shares Sold by Aaron Wealth Advisors LLC

Key Points

• Aaron Wealth Advisors LLC reduced its stake in PACCAR Inc. by 51.3% during the 2nd quarter, ending with 2,582 shares valued at $245,000.
• Several institutional investors, including Czech National Bank and MassMutual Private Wealth & Trust, have increased their holdings in PACCAR, indicating strong investor interest.
• PACCAR recently announced a quarterly dividend of $0.33 per share, representing a 1.3% yield and a payout ratio of 22.60%.

Aaron Wealth Advisors LLC decreased its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 51.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,582 shares of the company's stock after selling 2,719 shares during the quarter. Aaron Wealth Advisors LLC's holdings in PACCAR were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Balefire LLC bought a new position in shares of PACCAR in the second quarter worth about $402,000. Czech National Bank raised its position in PACCAR by 6.5% during the second quarter. Czech National Bank now owns 128,318 shares of the company's stock valued at $12,198,000 after purchasing an additional 7,872 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in PACCAR by 26.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,541 shares of the company's stock valued at $242,000 after purchasing an additional 525 shares during the period. Zevenbergen Capital Investments LLC raised its holdings in shares of PACCAR by 3.5% in the second quarter. Zevenbergen Capital Investments LLC now owns 23,645 shares of the company's stock worth $2,248,000 after buying an additional 810 shares during the period. Finally, Insight Wealth Strategies LLC raised its holdings in shares of PACCAR by 11.7% in the second quarter. Insight Wealth Strategies LLC now owns 44,150 shares of the company's stock worth $4,336,000 after buying an additional 4,612 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PCAR stock traded up $1.19 during mid-day trading on Tuesday, hitting $98.26. 133,508 shares of the stock were exchanged, compared to its average volume of 2,843,584. The stock's fifty day simple moving average is $98.83 and its two-hundred day simple moving average is $95.82. The stock has a market capitalization of $51.60 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 3.99 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month 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 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm's revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. On average, analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's dividend payout ratio is 22.60%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's 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 completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This 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 corporate insiders.

Analysts Set New Price Targets

PCAR has been the topic of several research reports. Citigroup raised their price objective on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. raised their price objective on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Finally, Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.68.

PACCAR Company 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.