LSV Asset Management Sells 110,600 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• LSV Asset Management reduced its stake in PACCAR Inc. by 36.6% during the first quarter, owning 191,300 shares valued at approximately $18.63 million after selling 110,600 shares.
• PACCAR recently announced a quarterly dividend of $0.33 per share, reflecting an annualized yield of 1.3% and a payout ratio of 22.60%.
• Wall Street analysts have generally rated PACCAR as a "Moderate Buy," with a consensus price target of $107.77 and various investors adjusting their ratings and targets recently.

LSV Asset Management reduced its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 36.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 191,300 shares of the company's stock after selling 110,600 shares during the period. LSV Asset Management's holdings in PACCAR were worth $18,627,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of PACCAR by 666.7% during the first 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 period. Alpine Bank Wealth Management acquired a new position in shares of PACCAR during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. increased its holdings in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after buying an additional 350 shares during the last quarter. Bayforest Capital Ltd increased 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 purchasing an additional 274 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings 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. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Down 0.8%

Shares of PACCAR stock traded down $0.83 during trading hours on Wednesday, reaching $97.37. The company's stock had a trading volume of 1,711,140 shares, compared to its average volume of 2,943,727. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a market capitalization of $51.13 billion, a P/E ratio of 16.67, a P/E/G ratio of 3.84 and a beta of 0.91. The stock's fifty day simple moving average is $95.54 and its two-hundred day simple moving average is $97.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the business earned $2.13 EPS. The business's revenue was down 15.7% on a year-over-year basis. On average, research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is 22.60%.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PCAR. Truist Financial cut their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a report on Monday, July 28th. Evercore ISI dropped their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Finally, UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.77.

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.