PACCAR Inc. $PCAR Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC has reduced its holdings in PACCAR Inc. by 68.0%, selling 27,303 shares and now owning 12,875 shares valued at approximately $1.25 million.
• PACCAR reported $1.37 EPS for the last quarter, exceeding expectations, but experienced a 15.7% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.33 per share, with a payout ratio of 22.60%, to be paid on September 4th to shareholders of record on August 14th.

Vident Advisory LLC cut its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 68.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,875 shares of the company's stock after selling 27,303 shares during the quarter. Vident Advisory LLC's holdings in PACCAR were worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of PACCAR by 15.1% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after purchasing an additional 104,281 shares during the last quarter. FORA Capital LLC bought a new position in shares of PACCAR during the 1st quarter worth $597,000. Cambridge Investment Research Advisors Inc. lifted its holdings in PACCAR by 62.1% during the 1st 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in PACCAR by 51.9% during the 1st 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 in the last quarter. Finally, Moran Wealth Management LLC raised its holdings in shares of PACCAR by 28.8% in the 1st quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock valued at $22,898,000 after acquiring an additional 52,525 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent research reports. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Citigroup increased their price objective on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research report on Monday, July 28th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $107.68.

PACCAR Trading Down 1.5%

Shares of PACCAR stock traded down $1.49 during trading on Monday, hitting $97.56. The stock had a trading volume of 968,386 shares, compared to its average volume of 2,827,716. The stock has a 50 day simple moving average of $98.25 and a 200 day simple moving average of $96.23. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a market capitalization of $51.23 billion, a PE ratio of 16.71, a P/E/G ratio of 3.98 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business's 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 expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, August 14th. PACCAR's payout ratio is presently 22.60%.

Insider Transactions at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company's 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 of the company's stock, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The shares were 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 approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate 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.