Abich Financial Wealth Management LLC Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Abich Financial Wealth Management LLC lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 53.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 760 shares of the company’s stock after selling 877 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in PACCAR were worth $75,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Capital International Investors grew its holdings in shares of PACCAR by 44.8% in the first 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 period. Renaissance Technologies LLC purchased a new stake in PACCAR in the 2nd quarter valued at $88,437,000. Dorsey & Whitney Trust CO LLC boosted its stake in shares of PACCAR by 3,636.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after acquiring an additional 531,794 shares in the last quarter. TD Asset Management Inc boosted its stake 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 valued at $319,218,000 after acquiring an additional 504,346 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in PACCAR in the second quarter valued at $51,277,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on Friday, October 25th. The shares were 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 directly owns 3,061 shares in the company, valued at approximately $328,353.47. This represents 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 the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,958 shares of company stock worth $6,290,956 over the last ninety days. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCAR. Evercore ISI cut their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Truist Financial lifted 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, October 23rd. Finally, Citigroup boosted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.18.

PACCAR Trading Down 0.4 %

PCAR stock traded down $0.44 during trading on Tuesday, hitting $106.63. The company had a trading volume of 147,164 shares, compared to its average volume of 2,626,950. The firm has a 50-day moving average price of $99.61 and a 200-day moving average price of $103.00. The stock has a market cap of $55.90 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.65 and a beta of 0.91. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.34 earnings per share. As a group, analysts predict that PACCAR Inc will post 8 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.13%. PACCAR’s payout ratio is currently 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.