Monument Capital Management Sells 29,973 Shares of PACCAR Inc. $PCAR

Key Points

• Monument Capital Management significantly reduced its stake in PACCAR Inc. by 92.5%, selling 29,973 shares and leaving it with only 2,422 shares valued at $230,000.
• Various institutional investors have increased their investments in PACCAR, with Wellington Management Group boosting its holdings by 20.1%, now owning over 20 million shares worth nearly $2 billion.
• The company recently reported Q2 earnings of $1.37 per share, surpassing estimates, although revenue dropped 15.7% compared to the same quarter last year.

Monument Capital Management trimmed its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 92.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,422 shares of the company's stock after selling 29,973 shares during the quarter. Monument Capital Management's holdings in PACCAR were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP increased its position in 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 purchasing an additional 3,379,165 shares during the period. Pacer Advisors Inc. grew its position in shares of PACCAR by 2,957.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after purchasing an additional 2,041,168 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of PACCAR by 177.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company's stock valued at $255,187,000 after purchasing an additional 1,677,736 shares during the period. Jones Financial Companies Lllp lifted its stake in PACCAR by 16,393.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company's stock valued at $139,402,000 after acquiring an additional 1,422,992 shares in the last quarter. Finally, Nuveen LLC bought a new stake in PACCAR in the 1st quarter valued at approximately $125,566,000. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCAR. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. Evercore ISI set a $114.00 price target on PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of PACCAR in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and an average price target of $107.59.

Insider Buying and Selling

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

PACCAR Stock Performance

NASDAQ:PCAR opened at $93.00 on Friday. The stock's 50-day simple moving average is $98.73 and its 200 day simple moving average is $95.55. The firm has a market capitalization 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 quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released 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. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.PACCAR's revenue was down 15.7% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. On average, analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

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

About PACCAR

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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