PACCAR Inc. $PCAR Stake Cut by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in PACCAR Inc. by 4.9%, owning approximately 0.11% of the company after selling 30,778 shares during the second quarter.
• PACCAR reported an EPS of $1.37 for the last quarter, exceeding estimates, though revenue declined by 15.7% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, set to be paid on December 3rd, with a current yield of 1.4%.

J. Safra Sarasin Holding AG lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,642 shares of the company's stock after selling 30,778 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.11% of PACCAR worth $56,337,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. increased its stake in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after buying an additional 240 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of PACCAR during the first quarter worth $29,000. Bayforest Capital Ltd raised its holdings in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares in the last quarter. Accent Capital Management LLC acquired a new stake in PACCAR during the first quarter valued at $40,000. Finally, JFS Wealth Advisors LLC grew its stake in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Down 0.6%

NASDAQ PCAR opened at $97.71 on Thursday. 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 $51.31 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 3.99 and a beta of 0.94. The stock's 50 day moving average is $99.15 and its two-hundred day moving average is $95.68. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its 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 business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $2.13 EPS. PACCAR's revenue was down 15.7% on a year-over-year basis. Equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's dividend payout ratio is currently 22.60%.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the 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 sale, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction dated Friday, July 25th. The shares were 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 directly 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 disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCAR. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and raised their price target for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Truist Financial cut their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a research report on Monday, July 28th. Finally, Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Two research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.