Wealthfront Advisers LLC Sells 6,062 Shares of PACCAR Inc. (NASDAQ:PCAR)

Wealthfront Advisers LLC trimmed its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,384 shares of the company's stock after selling 6,062 shares during the period. Wealthfront Advisers LLC's holdings in PACCAR were worth $7,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Geode Capital Management LLC grew its stake in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its stake in PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the period. FMR LLC grew its stake in PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Northern Trust Corp grew its stake in PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock worth $749,189,000 after purchasing an additional 565,967 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PCAR shares. Citigroup upped their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Wall Street Zen downgraded PACCAR from a "hold" rating to a "sell" rating in a report on Sunday. Truist Financial dropped their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI dropped their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PACCAR has a consensus rating of "Hold" and a consensus target price of $104.59.

PACCAR Trading Up 0.3%

Shares of NASDAQ:PCAR opened at $95.39 on Thursday. The company has a market cap of $50.08 billion, a P/E ratio of 14.45, a PEG ratio of 3.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock's fifty day moving average price is $94.60 and its 200-day moving average price is $98.72.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The company's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.27 earnings per share. Sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Insider Buying and Selling

In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director owned 13,015 shares in the company, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.

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