Stack Financial Management Inc Cuts Holdings in PACCAR Inc. $PCAR

Key Points

• Stack Financial Management Inc reduced its holdings in PACCAR Inc by 1.4% in Q2, bringing its total shares to 208,531, valued at approximately $19.8 million.
• Multiple institutional investors increased their positions in PACCAR, with E Fund Management Hong Kong Co. Ltd. boosting its stake by 666.7% in the first quarter.
• PACCAR recently declared a quarterly dividend of $0.33, payable on December 3rd, reflecting a 1.4% yield on an annualized basis.

Stack Financial Management Inc decreased its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,531 shares of the company's stock after selling 2,877 shares during the quarter. PACCAR accounts for approximately 1.8% of Stack Financial Management Inc's holdings, making the stock its 24th biggest position. Stack Financial Management Inc's holdings in PACCAR were worth $19,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. lifted 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 purchasing an additional 240 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock valued at $28,000 after acquiring an additional 100 shares during the period. Alpine Bank Wealth Management bought a new position in PACCAR in the first quarter valued at about $29,000. Bayforest Capital Ltd boosted its position in PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of PACCAR during the 1st quarter valued at about $40,000. Institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction 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 approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PCAR shares. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial set a $97.00 price target on shares of PACCAR and gave the stock a "hold" rating in a research report on Wednesday. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 target price on PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.59.

PACCAR Stock Down 2.3%

Shares of PCAR stock opened at $93.00 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company's fifty day moving average price is $98.73 and its 200-day moving average price is $95.51. The company has a market capitalization of $48.83 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 3.79 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $7.02 billion. During the same quarter in the prior year, the business posted $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm 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 $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's payout ratio is currently 22.60%.

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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