PACCAR Inc. $PCAR Shares Sold by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. reduced its stake in PACCAR Inc. by 4.1%, selling 76,610 shares to hold 1,795,324 shares as of the end of the first quarter.
• CEO R Preston Feight sold 39,965 shares of PACCAR at an average price of $99.52, while CFO Brice J. Poplawski sold 5,000 shares at $100.94, indicating significant insider selling activity.
• PACCAR has a current consensus rating of Moderate Buy from analysts, with an average price target of $107.68 after a majority rated it as either Hold or Buy in recent reports.

Epoch Investment Partners Inc. lessened its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,795,324 shares of the company's stock after selling 76,610 shares during the quarter. PACCAR makes up 0.9% of Epoch Investment Partners Inc.'s holdings, making the stock its 25th largest holding. Epoch Investment Partners Inc. owned about 0.34% of PACCAR worth $174,811,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PCAR. E Fund Management Hong Kong Co. Ltd. lifted its position in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in PACCAR during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. lifted its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the last quarter. Bayforest Capital Ltd lifted its position in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after acquiring an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new stake in PACCAR during the first quarter valued at approximately $40,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other news, 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 sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred 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 sale, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $0.70 during trading on Friday, hitting $99.98. The stock had a trading volume of 2,225,815 shares, compared to its average volume of 2,854,216. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The stock has a market capitalization of $52.50 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 4.07 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. The stock has a 50-day simple moving average of $97.62 and a two-hundred day simple moving average of $96.66.

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

PACCAR Dividend Announcement

The firm 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. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PCAR shares. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Truist Financial decreased their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research note on Monday, July 28th. Finally, Citigroup increased their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

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.