Hohimer Wealth Management LLC Sells 2,641 Shares of PACCAR Inc. (NASDAQ:PCAR)

Hohimer Wealth Management LLC trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 17.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,921 shares of the company's stock after selling 2,641 shares during the period. Hohimer Wealth Management LLC's holdings in PACCAR were worth $1,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCAR. E Fund Management Hong Kong Co. Ltd. increased its holdings in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after buying an additional 193 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of PACCAR in the 1st quarter valued at $29,000. Sunbelt Securities Inc. increased its stake in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares during the period. Finally, JFS Wealth Advisors LLC increased its stake in shares of PACCAR by 64.9% in the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after buying an additional 174 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PCAR. Evercore ISI lowered their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. 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. Wall Street Zen lowered PACCAR from a "hold" rating to a "sell" rating in a research report on Sunday. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Royal Bank Of Canada reduced their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $104.59.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director directly owned 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.02% of the company's stock.

PACCAR Trading Down 0.8%

NASDAQ:PCAR traded down $0.76 on Tuesday, reaching $95.13. The company's stock had a trading volume of 2,196,226 shares, compared to its average volume of 2,736,429. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. The firm has a market cap of $49.94 billion, a PE ratio of 14.41, a PEG ratio of 3.55 and a beta of 0.94. The business's 50-day moving average price is $94.34 and its two-hundred day moving average price is $98.76.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period in the previous year, the firm posted $2.27 earnings per share. The firm's revenue was down 16.0% on a year-over-year basis. Equities research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.39%. PACCAR's payout ratio is 20.00%.

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.