Schneider Downs Wealth Management Advisors LP Decreases Stock Position in PACCAR Inc. $PCAR

Key Points

• Schneider Downs Wealth Management Advisors LP reduced its holdings in PACCAR by 59.9%, now owning 3,016 shares valued at $294,000 following the sale of 4,500 shares in the first quarter.
• PACCAR's stock is currently trading at $98.22 and has seen a 1.5% decline recently, with a market cap of $51.58 billion and a PE ratio of 16.82.
• The company has declared a quarterly dividend of $0.33, with a payment date set for September 4th, reflecting an annualized dividend yield of 1.3%.

Schneider Downs Wealth Management Advisors LP decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 59.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,016 shares of the company's stock after selling 4,500 shares during the quarter. Schneider Downs Wealth Management Advisors LP's holdings in PACCAR were worth $294,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after purchasing an additional 987,805 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of PACCAR by 8.5% during the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after purchasing an additional 565,967 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock valued at $594,277,000 after purchasing an additional 97,197 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after buying an additional 4,219,964 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted 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. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Truist Financial lowered their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.68.

PACCAR Price Performance

PACCAR stock traded up $1.08 during trading hours on Tuesday, reaching $99.46. 2,064,225 shares of the stock were exchanged, compared to its average volume of 3,064,673. 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 twelve month low of $84.65 and a twelve month high of $118.81. The company has a market cap of $52.23 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 3.95 and a beta of 0.91. The stock has a 50 day moving average of $96.42 and a two-hundred day moving average of $96.93.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $7.02 billion. During the same period last year, the firm earned $2.13 EPS. The business's quarterly revenue was down 15.7% compared to the same quarter last year. Equities analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio is presently 22.60%.

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.