Eagle Bay Advisors LLC Sells 1,683 Shares of PACCAR Inc (NASDAQ:PCAR)

Eagle Bay Advisors LLC decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 37.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,855 shares of the company’s stock after selling 1,683 shares during the period. Eagle Bay Advisors LLC’s holdings in PACCAR were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PCAR. Capital International Investors lifted its stake in PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth approximately $88,437,000. Dorsey & Whitney Trust CO LLC boosted its position in PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock valued at $67,696,000 after buying an additional 531,794 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after purchasing an additional 504,346 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of PACCAR during the second quarter worth $51,277,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.6 %

PACCAR stock traded up $0.64 during trading hours on Wednesday, reaching $105.43. The stock had a trading volume of 1,058,694 shares, compared to its average volume of 2,634,749. The stock has a market cap of $55.27 billion, a PE ratio of 11.23, a PEG ratio of 1.70 and a beta of 0.91. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a fifty day simple moving average of $98.78 and a 200-day simple moving average of $103.41.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 EPS. Analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 12.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PCAR shares. Citigroup lifted their price target on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. 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. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial boosted their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Evercore ISI dropped their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.18.

Insider Activity

In other PACCAR 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 directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.02% of the company’s stock.

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.