Stack Financial Management Inc Cuts Stock Position in PACCAR Inc. $PCAR

Stack Financial Management Inc lessened its holdings in PACCAR Inc. (NASDAQ:PCAR) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 208,531 shares of the company’s stock after selling 2,877 shares during the period. PACCAR makes up about 1.8% of Stack Financial Management Inc’s investment portfolio, making the stock its 24th largest position. Stack Financial Management Inc’s holdings in PACCAR were worth $19,823,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PCAR. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after buying an additional 240 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in PACCAR in the first quarter worth about $29,000. Bayforest Capital Ltd increased its stake in 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 during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of PACCAR in the 1st quarter valued at approximately $40,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 2.3%

NASDAQ PCAR opened at $93.00 on Monday. The company’s 50-day moving average price is $98.73 and its 200-day moving average price is $95.51. 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 has a market cap of $48.83 billion, a PE ratio of 15.92, a PEG ratio of 3.79 and a beta of 0.94. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last announced 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 during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the business posted $2.13 EPS. Equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The company 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 is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR’s payout ratio is presently 22.60%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the firm’s 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 transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, 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 disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PCAR has been the topic of several analyst reports. Truist Financial set a $97.00 target price on PACCAR and gave the company a “hold” rating in a research report on Wednesday. Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday, July 28th. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $107.59.

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.