Aptus Capital Advisors LLC Decreases Holdings in PACCAR Inc (NASDAQ:PCAR)

Aptus Capital Advisors LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 24.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,805 shares of the company’s stock after selling 1,245 shares during the quarter. Aptus Capital Advisors LLC’s holdings in PACCAR were worth $375,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. BDF Gestion bought a new position in shares of PACCAR in the second quarter worth approximately $2,862,000. Virtu Financial LLC bought a new position in shares of PACCAR in the first quarter worth approximately $1,359,000. Comerica Bank grew its holdings in shares of PACCAR by 8.7% in the first quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after purchasing an additional 13,075 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after purchasing an additional 5,437 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of PACCAR by 371.8% in the first quarter. Cetera Investment Advisers now owns 44,311 shares of the company’s stock worth $5,490,000 after purchasing an additional 34,919 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % 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 quarter. 2.02% of the stock is owned by insiders.

Analysts Set New Price Targets

PCAR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Truist Financial lifted their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $116.55.

PACCAR Stock Performance

Shares of PCAR stock opened at $112.26 on Friday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market cap of $58.86 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average price is $103.65 and its 200-day moving average price is $102.83.

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

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 13th. 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.