PACCAR Inc (NASDAQ:PCAR) Stock Position Decreased by Sentry Investment Management LLC

Sentry Investment Management LLC lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 17.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,271 shares of the company’s stock after selling 465 shares during the period. Sentry Investment Management LLC’s holdings in PACCAR were worth $234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AGF Management Ltd. lifted its holdings in shares of PACCAR by 6.3% in the 2nd quarter. AGF Management Ltd. now owns 21,755 shares of the company’s stock worth $2,239,000 after purchasing an additional 1,280 shares during the last quarter. Kinsale Capital Group Inc. increased its position in PACCAR by 20.0% in the second quarter. Kinsale Capital Group Inc. now owns 43,343 shares of the company’s stock worth $4,462,000 after buying an additional 7,228 shares during the period. Coldstream Capital Management Inc. lifted its stake in PACCAR by 1.5% in the second quarter. Coldstream Capital Management Inc. now owns 37,475 shares of the company’s stock valued at $3,858,000 after buying an additional 557 shares during the last quarter. Malaga Cove Capital LLC acquired a new position in shares of PACCAR during the second quarter valued at $318,000. Finally, Daiwa Securities Group Inc. grew its position in shares of PACCAR by 8.7% during the second quarter. Daiwa Securities Group Inc. now owns 88,575 shares of the company’s stock worth $9,118,000 after acquiring an additional 7,116 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Evercore ISI cut their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $112.73.

PACCAR Stock Down 0.3 %

PCAR opened at $94.25 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The company has a market capitalization of $49.40 billion, a PE ratio of 9.78, a P/E/G ratio of 1.44 and a beta of 0.91. The stock’s fifty day moving average is $97.64 and its 200-day moving average is $106.90. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50.

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

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 12.45%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.