PACCAR Inc. $PCAR Shares Sold by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC reduced its stake in PACCAR Inc. by 17.7% during the first quarter, selling 23,246 shares and leaving them with 107,837 shares valued at approximately $10.5 million.
• PACCAR announced a quarterly dividend of $0.33 per share, payable on September 4th, reflecting an annual yield of1.3%.
• Several hedge funds have made significant changes to their positions in PACCAR, including E Fund Management increasing its stake by 666.7%.

Guggenheim Capital LLC cut its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,837 shares of the company's stock after selling 23,246 shares during the period. Guggenheim Capital LLC's holdings in PACCAR were worth $10,500,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PCAR. Wellington Management Group LLP boosted its position in shares of PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after acquiring an additional 3,379,165 shares during the last quarter. Pacer Advisors Inc. lifted its position in PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after buying an additional 2,041,168 shares in the last quarter. Nuveen LLC acquired a new position in PACCAR during the first quarter valued at approximately $125,566,000. Vanguard Group Inc. lifted its position in PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after buying an additional 1,113,520 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after buying an additional 987,805 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and lifted their price target for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Truist Financial reduced their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and an average price target of $107.68.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were 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 owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, 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. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Down 0.7%

Shares of NASDAQ:PCAR traded down $0.70 during midday trading on Friday, reaching $99.98. The company had a trading volume of 2,225,815 shares, compared to its average volume of 2,130,235. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The stock's fifty day moving average price is $97.80 and its 200-day moving average price is $96.51. The stock has a market capitalization of $52.50 billion, a P/E ratio of 17.12, a PEG ratio of 4.01 and a beta of 0.94. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81.

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

PACCAR Dividend Announcement

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

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.