PACCAR Inc. $PCAR Shares Sold by Paradiem LLC

Key Points

• Paradiem LLC has reduced its stake in PACCAR Inc. by 31.2%, now holding 78,305 shares worth approximately $7.44 million.
• PACCAR's quarterly earnings report revealed an EPS of $1.37, exceeding expectations, but with revenue down 15.7% year-over-year at $6.96 billion.
• The company has declared a quarterly dividend of $0.33, set to be paid on December 3rd, reflecting an annual yield of 1.3%.

Paradiem LLC reduced its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 31.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 78,305 shares of the company's stock after selling 35,484 shares during the period. PACCAR comprises approximately 1.9% of Paradiem LLC's holdings, making the stock its 21st biggest holding. Paradiem LLC's holdings in PACCAR were worth $7,444,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PCAR. FORA Capital LLC acquired a new stake in PACCAR in the 1st quarter worth about $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of PACCAR by 15.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after acquiring an additional 104,281 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in PACCAR by 62.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock valued at $3,533,000 after purchasing an additional 13,904 shares during the period. China Universal Asset Management Co. Ltd. grew 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 valued at $1,262,000 after purchasing an additional 4,429 shares during the period. Finally, Moran Wealth Management LLC increased its position in PACCAR by 28.8% during the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after purchasing an additional 52,525 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Down 0.6%

Shares of PACCAR stock opened at $99.85 on Tuesday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The stock has a market cap of $52.43 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 4.03 and a beta of 0.94. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average price of $99.22 and a 200 day moving average price of $95.64.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the company posted $2.13 earnings per share. The firm's revenue was down 15.7% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Truist Financial dropped their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.68.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred 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 owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was 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 company insiders.

PACCAR 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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