New Age Alpha Advisors LLC Lowers Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• New Age Alpha Advisors LLC has significantly reduced its stake in PACCAR Inc. by 79.1%, owning 9,038 shares valued at $880,000 after selling 34,297 shares in the first quarter.
• Several institutional investors have increased their positions in PACCAR, including Kovitz Investment Group with a 370.5% increase, now holding shares worth $557.5 million.
• PACCAR recently declared a quarterly dividend of $0.33 per share, yielding 1.4%, with the ex-dividend date being August 14th.

New Age Alpha Advisors LLC lowered its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 79.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,038 shares of the company's stock after selling 34,297 shares during the quarter. New Age Alpha Advisors LLC's holdings in PACCAR were worth $880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PCAR. Farmers & Merchants Investments Inc. raised its holdings in shares of PACCAR by 33.1% during the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after purchasing an additional 116 shares during the last quarter. RMR Wealth Builders grew its position in PACCAR by 1.4% during the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock valued at $848,000 after buying an additional 122 shares during the period. Applied Capital LLC FL grew its position in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock valued at $2,455,000 after buying an additional 124 shares during the period. Oregon Public Employees Retirement Fund grew its position in PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock valued at $4,390,000 after buying an additional 130 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock valued at $228,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Up 1.9%

Shares of NASDAQ:PCAR traded up $1.80 during trading on Tuesday, reaching $98.95. The stock had a trading volume of 2,459,068 shares, compared to its average volume of 2,915,613. The firm's 50-day simple moving average is $95.83 and its 200 day simple moving average is $97.32. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. 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 $51.96 billion, a P/E ratio of 16.94, a PEG ratio of 3.91 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. The company's quarterly revenue was down 15.7% compared to the same quarter last year. As a group, 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 Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio is 22.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup upped their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and upped their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Evercore ISI lowered their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Finally, Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday, July 28th. Nine analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $107.77.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction on Friday, July 25th. The shares were 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 of the company's stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

PACCAR Company 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.