PACCAR Inc. $PCAR Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. has reduced its stake in PACCAR Inc. by 8.0%, now holding 109,167 shares valued at $10.36 million as of its latest SEC filing.
• PACCAR reported $1.12 earnings per share for the quarter, falling short of analysts' expectations of $1.14, while its revenue of $6.67 billion exceeded projections.
• The company has declared a quarterly dividend of $0.33 per share to be paid on December 3rd, yielding an annualized dividend of 1.3%.

Ethic Inc. decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,167 shares of the company's stock after selling 9,485 shares during the period. Ethic Inc.'s holdings in PACCAR were worth $10,359,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FORA Capital LLC bought a new position in PACCAR during the 1st quarter worth approximately $597,000. Cambridge Investment Research Advisors Inc. lifted its stake in PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after purchasing an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in PACCAR by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after purchasing an additional 4,429 shares during the period. Moran Wealth Management LLC increased its stake in PACCAR by 28.8% during the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock valued at $22,898,000 after purchasing an additional 52,525 shares during the last quarter. Finally, Stack Financial Management Inc acquired a new stake in shares of PACCAR during the first quarter worth $20,585,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Up 2.9%

Shares of PCAR stock opened at $100.29 on Wednesday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The business's fifty day moving average is $98.50 and its 200-day moving average is $95.51. The stock has a market cap of $52.66 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 4.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The business's revenue was down 20.7% compared to the same quarter last year. Equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR's payout ratio is currently 22.60%.

Insider Activity at PACCAR

In other PACCAR news, 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 of the company's stock, valued at $47,239.92. The trade was a 91.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent research reports. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research report on Monday, July 28th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Raymond James Financial reissued a "market perform" rating on shares of PACCAR in a report on Tuesday. Wolfe Research raised PACCAR from an "underperform" rating to a "peer perform" rating in a research report on Wednesday. Finally, Citigroup boosted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $104.86.

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.

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