PACCAR Inc. $PCAR Shares Sold by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd reduced its holdings in PACCAR Inc. by 13.8% during the first quarter, now owning 18,017 shares valued at $1,773,000.
• CFO Brice J. Poplawski and CEO R Preston Feight both recently sold significant amounts of PACCAR shares, with Poplawski's sale representing a 91.44% decrease in his ownership.
• PACCAR reported a Q2 EPS of $1.37, exceeding the estimate of $1.28, despite a 15.7% year-over-year revenue decline.

Plato Investment Management Ltd reduced its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,017 shares of the company's stock after selling 2,880 shares during the quarter. Plato Investment Management Ltd's holdings in PACCAR were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. grew its holdings in PACCAR by 33.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after buying an additional 116 shares during the period. RMR Wealth Builders grew its holdings in PACCAR by 1.4% in the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock valued at $848,000 after purchasing an additional 122 shares during the period. Applied Capital LLC FL increased its position in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after purchasing an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after purchasing an additional 130 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its stake in PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock worth $228,000 after purchasing an additional 130 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of PACCAR 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 sale, 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 currently owned by company insiders.

PACCAR Price Performance

PCAR stock opened at $98.66 on Thursday. The firm has a market cap of $51.81 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.92 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 Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a 50-day simple moving average of $98.29 and a 200-day simple moving average of $96.22.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping 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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the company posted $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. On average, equities analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Citigroup upped their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and raised their price target for the company from $81.00 to $100.00 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 given a Hold rating to the company. According to data from MarketBeat.com, PACCAR presently has an average rating of "Moderate Buy" and a consensus price target of $107.68.

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.

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