Fortem Financial Group LLC Sells 2,605 Shares of PACCAR Inc. (NASDAQ:PCAR)

Fortem Financial Group LLC lowered its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 29.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,215 shares of the company's stock after selling 2,605 shares during the quarter. Fortem Financial Group LLC's holdings in PACCAR were worth $605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. Norges Bank bought a new position in PACCAR during the fourth quarter worth $526,922,000. Kovitz Investment Group Partners LLC increased its position in PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock worth $557,453,000 after acquiring an additional 4,219,964 shares during the period. Wellington Management Group LLP increased its position in PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Madison Investment Advisors LLC bought a new stake in PACCAR in the 4th quarter valued at $254,651,000. Finally, GAMMA Investing LLC increased its holdings in PACCAR by 10,716.5% in the 1st quarter. GAMMA Investing LLC now owns 879,056 shares of the company's stock valued at $85,594,000 after buying an additional 870,929 shares during the period. Institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director owned 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase 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. Insiders own 2.02% of the company's stock.

PACCAR Price Performance

NASDAQ PCAR traded down $2.01 on Friday, hitting $97.21. 2,822,712 shares of the company were exchanged, compared to its average volume of 2,734,823. The company has a market cap of $51.03 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.59 and a beta of 0.94. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $94.21 and a two-hundred day moving average of $98.87.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.27 earnings per share. On average, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. PACCAR's payout ratio is 20.00%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCAR. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a report on Wednesday, April 16th. Wall Street Zen lowered shares of PACCAR from a "hold" rating to a "sell" rating in a report on Sunday. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Citigroup boosted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $104.59.

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.