Insight Inv LLC Sells 150 Shares of PACCAR Inc (NASDAQ:PCAR)

Insight Inv LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 1.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,377 shares of the company’s stock after selling 150 shares during the quarter. Insight Inv LLC’s holdings in PACCAR were worth $1,583,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its position in shares of PACCAR by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after buying an additional 83,444 shares during the period. Norges Bank acquired a new stake in PACCAR in the fourth quarter worth $448,288,000. Capital International Investors boosted its position in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of PACCAR by 1.5% during the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after purchasing an additional 48,784 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of PACCAR by 0.9% in the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after buying an additional 23,394 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent analyst reports. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Raymond James began coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Citigroup cut their price target on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Truist Financial dropped their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $112.73.

PACCAR Stock Up 1.8 %

PACCAR stock opened at $94.97 on Tuesday. The company has a fifty day simple moving average of $97.92 and a 200 day simple moving average of $107.10. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a market cap of $49.79 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The business’s revenue was down 2.1% on a year-over-year basis. Research analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Thursday, August 15th. PACCAR’s payout ratio is presently 12.45%.

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.