Stoneridge Investment Partners LLC Sells 5,875 Shares of PACCAR Inc. $PCAR

Key Points

• Stoneridge Investment Partners LLC significantly reduced its stake in PACCAR Inc. by 48.8% in the first quarter, now holding 6,173 shares valued at approximately $601,000.
• PACCAR's CEO, R. Preston Feight, sold 39,965 shares at an average price of $99.52, resulting in a 15.19% decrease in his ownership of the company.
• The company has announced a quarterly dividend of $0.33 per share, to be paid on September 4th, 2023, highlighting a dividend yield of 1.3%.

Stoneridge Investment Partners LLC decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 48.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,173 shares of the company's stock after selling 5,875 shares during the quarter. Stoneridge Investment Partners LLC's holdings in PACCAR were worth $601,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. increased its position in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in PACCAR in the first quarter worth about $29,000. Sunbelt Securities Inc. increased its position in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after buying an additional 350 shares in the last quarter. Bayforest Capital Ltd grew its stake in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after acquiring an additional 274 shares during the period. Finally, Accent Capital Management LLC bought a new position in shares of PACCAR during the 1st quarter valued at approximately $40,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 1.7%

PACCAR stock traded down $1.6860 during mid-day trading on Monday, hitting $99.8140. The company's stock had a trading volume of 512,959 shares, compared to its average volume of 2,860,900. The company has a 50 day moving average of $96.87 and a 200-day moving average of $96.68. The stock has a market cap of $52.41 billion, a PE ratio of 17.12, a P/E/G ratio of 4.07 and a beta of 0.91. 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 one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced 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. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.PACCAR's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.13 EPS. On average, research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's payout ratio is 22.60%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PCAR shares. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial decreased their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 price objective on PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Finally, Royal Bank Of Canada lowered their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Two research 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. Based on data from MarketBeat, PACCAR presently has an average rating of "Moderate Buy" and an average target price of $107.68.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of PACCAR 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 completion of the sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

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.