New Age Alpha Advisors LLC Sells 34,297 Shares of 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 cut its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 79.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,038 shares of the company's stock after selling 34,297 shares during the period. New Age Alpha Advisors LLC's holdings in PACCAR were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC increased its position in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after buying an additional 290 shares in the last quarter. Raymond James Financial Inc. bought a new stake in PACCAR in the 4th quarter valued at about $30,440,000. Bessemer Group Inc. increased its position in PACCAR by 0.9% in the 4th quarter. Bessemer Group Inc. now owns 36,438 shares of the company's stock valued at $3,791,000 after buying an additional 337 shares in the last quarter. Heritage Trust Co bought a new stake in PACCAR in the 4th quarter valued at about $2,559,000. Finally, Rockefeller Capital Management L.P. increased its position in PACCAR by 4.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 16,577 shares of the company's stock valued at $1,731,000 after buying an additional 764 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCAR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley lowered 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. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their price target for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and an average price target of $107.77.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business'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 sale, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction 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 sale, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% 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

Shares of NASDAQ PCAR traded up $2.24 during midday trading on Wednesday, reaching $101.19. The company's stock had a trading volume of 632,967 shares, compared to its average volume of 2,900,868. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The firm has a 50 day moving average price of $95.94 and a 200-day moving average price of $97.33. The stock has a market capitalization of $53.14 billion, a P/E ratio of 17.33, a PEG ratio of 3.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. 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 business earned $2.13 EPS. The company's revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current 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 issued a dividend of $0.33 per share. 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 1.3%. 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.