Inspire Investing LLC Sells 22,760 Shares of PACCAR Inc. $PCAR

Key Points

• Inspire Investing LLC sold 22,760 shares of PACCAR Inc., reducing its stake by 30%, resulting in ownership of 53,158 shares valued at approximately $5.05 million.
• PACCAR announced a quarterly dividend of $0.33 per share, with a yield of 1.4%, to be paid on December 3rd to shareholders of record on November 12th.
• Analyst ratings for PACCAR show a consensus of "Moderate Buy" with a price target of $107.59, following recent upgrades from multiple firms.

Inspire Investing LLC lowered its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 30.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,158 shares of the company's stock after selling 22,760 shares during the quarter. Inspire Investing LLC's holdings in PACCAR were worth $5,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR during the 1st quarter worth $29,000. Bayforest Capital Ltd boosted its stake in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Accent Capital Management LLC purchased a new position in shares of PACCAR during the 1st quarter worth $40,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of PACCAR by 64.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Analyst Ratings Changes

PCAR has been the topic of a number of analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of PACCAR in a research note on Wednesday. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial set a $97.00 target price on shares of PACCAR and gave the stock a "hold" rating in a report on Wednesday. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a report on Monday, July 28th. Finally, Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.59.

PACCAR Trading Down 2.3%

NASDAQ PCAR opened at $93.00 on Friday. 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 firm has a market cap of $48.83 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.88 and a beta of 0.94. The company has a 50 day moving average price of $98.73 and a 200 day moving average price of $95.55. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data 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 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%. PACCAR's revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 EPS. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's dividend payout ratio is presently 22.60%.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

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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