Eads & Heald Wealth Management Cuts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Eads & Heald Wealth Management decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,918 shares of the company’s stock after selling 110 shares during the period. Eads & Heald Wealth Management’s holdings in PACCAR were worth $928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CVA Family Office LLC lifted its position in shares of PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after acquiring an additional 97 shares in the last quarter. Global Financial Private Client LLC raised its stake in PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. Omnia Family Wealth LLC lifted its holdings in PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after purchasing an additional 98 shares in the last quarter. Grove Bank & Trust boosted its stake in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Finally, Insight Wealth Partners LLC grew its holdings in shares of PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 in the last three months. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PCAR has been the topic of several research reports. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Truist Financial lifted their price objective on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $120.13.

PACCAR Price Performance

Shares of PCAR opened at $110.11 on Wednesday. The firm has a 50-day simple moving average of $110.97 and a two-hundred day simple moving average of $104.12. The stock has a market cap of $57.73 billion, a PE ratio of 12.30, a P/E/G ratio of 2.78 and a beta of 0.93. PACCAR Inc has a 1-year low of $90.04 and a 1-year 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.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the company earned $2.34 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, analysts forecast that PACCAR Inc will post 7.93 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 13.41%.

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.