Affinity Investment Advisors LLC Sells 3,682 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Affinity Investment Advisors LLC reduced its stake in PACCAR Inc. by 36.5%, selling 3,682 shares during the first quarter, leaving them with 6,412 shares valued at $624,000.
• PACCAR recently announced a quarterly dividend of $0.33 per share, translating to an annualized yield of 1.3% and a payout ratio of 22.60%.
• Despite a revenue drop of 15.7% year-over-year, PACCAR beat analysts' earnings expectations with $1.37 EPS for the last quarter, which was above the consensus estimate of $1.28.

Affinity Investment Advisors LLC trimmed its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 36.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,412 shares of the company's stock after selling 3,682 shares during the period. Affinity Investment Advisors LLC's holdings in PACCAR were worth $624,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Farmers & Merchants Investments Inc. boosted its stake in PACCAR by 33.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after buying an additional 116 shares in the last quarter. RMR Wealth Builders boosted its stake in PACCAR by 1.4% in the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock worth $848,000 after buying an additional 122 shares in the last quarter. Applied Capital LLC FL boosted its stake in PACCAR by 0.5% in the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after buying an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in PACCAR by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after buying an additional 130 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in PACCAR by 5.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock worth $228,000 after buying an additional 130 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR stock opened at $98.22 on Friday. The stock has a fifty day moving average of $96.34 and a 200 day moving average of $97.12. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a market capitalization of $51.58 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.94 and a beta of 0.91. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's dividend payout ratio is 22.60%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PCAR shares. Royal Bank Of Canada cut their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial dropped their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Citigroup increased their price objective on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Finally, Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research note on Monday, July 28th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.77.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares of the company's stock, 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 corporate 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.

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