Sheaff Brock Investment Advisors LLC Sells 400 Shares of PACCAR Inc (NASDAQ:PCAR)

Sheaff Brock Investment Advisors LLC lessened its position in shares of PACCAR Inc (NASDAQ:PCAR) by 8.3% in the third quarter, HoldingsChannel.com reports. The firm owned 4,400 shares of the company’s stock after selling 400 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in PACCAR were worth $434,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCAR. New Covenant Trust Company N.A. bought a new stake in PACCAR in the first quarter worth approximately $27,000. Quarry LP bought a new position in shares of PACCAR in the second quarter valued at $26,000. Meeder Asset Management Inc. lifted its position in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR during the second quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC boosted its holdings in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on PCAR. Citigroup upped their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial lifted their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Morgan Stanley cut their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $116.55.

PACCAR Price Performance

PCAR stock opened at $112.26 on Friday. The firm has a 50 day simple moving average of $104.03 and a two-hundred day simple moving average of $102.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The stock has a market cap of $58.86 billion, a PE ratio of 12.54, a P/E/G ratio of 1.83 and a beta of 0.89. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 EPS. On average, analysts predict that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insider Buying and Selling

In other news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is owned by company insiders.

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.