Stoneridge Investment Partners LLC Lowers Position in PACCAR Inc (NASDAQ:PCAR)

Stoneridge Investment Partners LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 12,148 shares of the company’s stock after selling 105 shares during the period. Stoneridge Investment Partners LLC’s holdings in PACCAR were worth $1,199,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial increased their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup upped their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average price target of $113.82.

PACCAR Stock Performance

NASDAQ:PCAR opened at $104.82 on Tuesday. PACCAR Inc has a 12 month low of $85.14 and a 12 month high of $125.50. 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 firm has a market capitalization of $54.96 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. The business’s fifty day moving average price is $100.51 and its 200 day moving average price is $102.58.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. On average, sell-side analysts anticipate that PACCAR Inc will post 8 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Activity

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on 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 sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

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.