Aspire Capital Advisors LLC Sells 3,445 Shares of PACCAR Inc. $PCAR

Key Points

• Aspire Capital Advisors LLC has reduced its stake in PACCAR Inc. by 15.4%, selling 3,445 shares, and now holds 18,889 shares valued at approximately $1.8 million.
• PACCAR recently announced a quarterly dividend of $0.33 per share, with an annualized yield of 1.4%, set to be paid on December 3rd.
• Analysts have upgraded PACCAR’s rating, with Argus moving it from "hold" to "buy" and a consensus price target of $107.68.

Aspire Capital Advisors LLC lowered its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,889 shares of the company's stock after selling 3,445 shares during the quarter. Aspire Capital Advisors LLC's holdings in PACCAR were worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after buying an additional 240 shares during the period. Alpine Bank Wealth Management bought a new position in shares of PACCAR in the first quarter worth about $29,000. Sunbelt Securities Inc. raised its stake in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after buying an additional 350 shares during the period. Bayforest Capital Ltd raised its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after buying an additional 274 shares during the period. Finally, Accent Capital Management LLC bought a new position in shares of PACCAR in the first quarter worth about $40,000. Institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCAR. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Vertical Research raised PACCAR to a "strong-buy" 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 note on Tuesday, June 24th. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR Stock Performance

NASDAQ PCAR opened at $96.89 on Thursday. The stock has a market capitalization of $50.88 billion, a PE ratio of 16.59, a P/E/G ratio of 3.92 and a beta of 0.94. The business has a 50 day simple moving average of $98.92 and a two-hundred day simple moving average of $95.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

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

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

Insider Activity at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred 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 trade represents a 91.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred 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 of the company's stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

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.

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