Harbour Investment Management LLC Sells 2,574 Shares of PACCAR Inc. $PCAR

Key Points

• Harbour Investment Management LLC sold 2,574 shares of PACCAR Inc., reducing its stake by 4.8% and making PACCAR its 12th largest position in the portfolio.
• PACCAR reported earnings per share of $1.12 for the latest quarter, missing estimates by $0.02, with a revenue of $6.67 billion, exceeding expectations of $6.23 billion.
• The company will pay a quarterly dividend of $0.33 per share on December 3rd, with an annualized dividend of $1.32 and a yield of 1.3%.

Harbour Investment Management LLC reduced its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,160 shares of the company's stock after selling 2,574 shares during the period. PACCAR comprises 2.1% of Harbour Investment Management LLC's investment portfolio, making the stock its 12th largest position. Harbour Investment Management LLC's holdings in PACCAR were worth $4,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PCAR. Hazlett Burt & Watson Inc. increased its stake in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after buying an additional 100 shares during the period. Alpine Bank Wealth Management bought a new stake in PACCAR in the 1st quarter worth $29,000. Bayforest Capital Ltd increased its position in shares of PACCAR by 234.2% in 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 period. Accent Capital Management LLC bought a new position in shares of PACCAR during the first quarter valued at about $40,000. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of PACCAR during the second quarter worth about $43,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Down 0.4%

Shares of NASDAQ PCAR opened at $99.38 on Friday. The firm's 50 day moving average price is $98.48 and its 200-day moving average price is $95.61. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 1.82. The company has a market cap of $52.18 billion, a PE ratio of 19.45, a P/E/G ratio of 4.13 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02). The firm had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.PACCAR's revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, equities research analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio (DPR) is 25.83%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction dated 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. The trade was a 15.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PCAR shares. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research report on Monday, July 28th. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Raymond James Financial reissued a "market perform" rating on shares of PACCAR in a research report on Tuesday. Morgan Stanley set a $90.00 price target on shares of PACCAR in a research report on Tuesday. Finally, UBS Group set a $103.00 price objective on shares of PACCAR and gave the stock a "neutral" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $106.59.

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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