Independent Advisor Alliance Trims Stock Position in PACCAR Inc (NASDAQ:PCAR)

Independent Advisor Alliance decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 88.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,161 shares of the company’s stock after selling 40,457 shares during the quarter. Independent Advisor Alliance’s holdings in PACCAR were worth $509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BDF Gestion acquired a new position in shares of PACCAR in the 2nd quarter valued at $2,862,000. Mengis Capital Management Inc. raised its position in shares of PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares during the period. Virtu Financial LLC acquired a new stake in shares of PACCAR during the 1st quarter valued at about $1,359,000. Fisher Asset Management LLC grew its position in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of PACCAR by 28.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after purchasing an additional 5,437 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 0.3 %

NASDAQ PCAR opened at $116.18 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The business’s fifty day simple moving average is $106.94 and its 200-day simple moving average is $103.19. The firm has a market cap of $60.91 billion, a PE ratio of 12.98, a P/E/G ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 EPS. As a group, equities analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Analyst Upgrades and Downgrades

Several analysts have commented on PCAR shares. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average target price of $117.64.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 over the last quarter. 2.02% of the stock is currently owned by company insiders.

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.