Praxis Investment Management Inc. Sells 4,220 Shares of PACCAR Inc. $PCAR

Key Points

• Praxis Investment Management Inc. reduced its holdings in PACCAR Inc. by 22.1%, selling 4,220 shares during the second quarter, leaving it with 14,850 shares valued at $1.41 million.
• Institutional investors currently own 64.90% of PACCAR, with several firms making significant adjustments to their positions, including Mutual Advisors LLC increasing their stake by 617.7%.
• PACCAR recently announced a quarterly dividend of $0.33, with a dividend yield of 1.4%, set to be paid on December 3rd to stockholders of record on November 12th.

Praxis Investment Management Inc. cut its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 22.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,850 shares of the company's stock after selling 4,220 shares during the period. Praxis Investment Management Inc.'s holdings in PACCAR were worth $1,412,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Mutual Advisors LLC increased its stake in shares of PACCAR by 617.7% in the second quarter. Mutual Advisors LLC now owns 18,037 shares of the company's stock worth $1,832,000 after purchasing an additional 15,524 shares during the period. Moran Wealth Management LLC grew its position in PACCAR by 6.1% during the second quarter. Moran Wealth Management LLC now owns 249,480 shares of the company's stock worth $23,716,000 after buying an additional 14,313 shares in the last quarter. Hudson Capital Management LLC grew its position in PACCAR by 3.7% during the second quarter. Hudson Capital Management LLC now owns 47,253 shares of the company's stock worth $4,492,000 after buying an additional 1,697 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in PACCAR by 0.3% during the second quarter. Atria Wealth Solutions Inc. now owns 63,052 shares of the company's stock worth $5,994,000 after buying an additional 218 shares in the last quarter. Finally, Vest Financial LLC grew its position in PACCAR by 11.7% during the second quarter. Vest Financial LLC now owns 394,693 shares of the company's stock worth $37,520,000 after buying an additional 41,195 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Zacks Research downgraded PACCAR from a "hold" rating to a "strong sell" rating in a research report on Friday, October 10th. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on PACCAR from $97.00 to $103.00 and gave the stock a "neutral" rating in a research report on Tuesday. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Finally, Evercore ISI set a $114.00 price objective on PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and an average price target of $108.14.

PACCAR Stock Down 0.5%

NASDAQ PCAR opened at $94.69 on Friday. 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 stock's 50 day moving average is $98.48 and its two-hundred day moving average is $95.44. The company has a market capitalization of $49.72 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 3.89 and a beta of 0.94. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates 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%.The company's quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. Equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's payout ratio is presently 22.60%.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction that occurred on 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business'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 directly owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

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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