Atticus Wealth Management LLC Has $86,000 Holdings in PACCAR Inc (NASDAQ:PCAR)

Atticus Wealth Management LLC lessened its position in PACCAR Inc (NASDAQ:PCAR) by 43.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 696 shares of the company’s stock after selling 525 shares during the period. Atticus Wealth Management LLC’s holdings in PACCAR were worth $86,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PCAR. OneAscent Wealth Management LLC purchased a new position in shares of PACCAR during the first quarter valued at approximately $225,000. Indiana Trust & Investment Management CO boosted its position in shares of PACCAR by 337.9% during the first quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock valued at $67,000 after buying an additional 419 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of PACCAR during the first quarter valued at approximately $3,605,000. Vanguard Capital Wealth Advisors purchased a new position in shares of PACCAR during the first quarter valued at approximately $213,000. Finally, RMR Wealth Builders boosted its position in shares of PACCAR by 3.8% during the first quarter. RMR Wealth Builders now owns 8,920 shares of the company’s stock valued at $1,105,000 after buying an additional 329 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $1.03 during mid-day trading on Friday, hitting $102.94. The company had a trading volume of 11,403,453 shares, compared to its average volume of 2,603,300. The company has a market capitalization of $53.96 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.59 and a beta of 0.94. PACCAR Inc has a 1 year low of $80.64 and a 1 year high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $107.60 and its 200-day moving average price is $107.70.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. On average, sell-side analysts forecast that PACCAR Inc will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PACCAR’s payout ratio is 12.45%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Raymond James assumed coverage on PACCAR in a research report on Friday. They set a “market perform” rating on the stock. The Goldman Sachs Group lifted their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $114.38.

PACCAR 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.