CX Institutional Reduces Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

CX Institutional lowered its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 55.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,241 shares of the company's stock after selling 6,588 shares during the quarter. CX Institutional's holdings in PACCAR were worth $510,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the fourth quarter valued at $37,000. Sunbelt Securities Inc. boosted its stake in shares of PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the fourth quarter valued at $43,000. Finally, Atala Financial Inc acquired a new stake in shares of PACCAR during the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore ISI decreased their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Truist Financial decreased their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.14.

PACCAR Trading Down 1.9%

Shares of NASDAQ PCAR traded down $1.76 during midday trading on Friday, hitting $91.88. The stock had a trading volume of 1,976,656 shares, compared to its average volume of 2,736,673. The company has a market capitalization of $48.23 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.77 and a beta of 0.95. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $92.08 and a 200 day moving average price of $101.27.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business's revenue for the quarter was down 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.27 earnings per share. On average, analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's dividend payout ratio is currently 20.00%.

Insider Activity

In related news, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.02% of the company's stock.

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.