PACCAR Inc (NASDAQ:PCAR) Stake Lowered by Parcion Private Wealth LLC

Parcion Private Wealth LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,105 shares of the company’s stock after selling 972 shares during the period. PACCAR comprises approximately 2.2% of Parcion Private Wealth LLC’s portfolio, making the stock its 11th biggest holding. Parcion Private Wealth LLC owned about 0.05% of PACCAR worth $26,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PCAR. New Covenant Trust Company N.A. bought a new stake in PACCAR in the first quarter worth approximately $27,000. Quarry LP acquired a new stake in shares of PACCAR in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR in the second quarter worth $36,000. Finally, Fortitude Family Office LLC increased its position in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after buying an additional 244 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other 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 transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCAR. 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. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Truist Financial upped their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $114.18.

PACCAR Stock Up 1.0 %

NASDAQ PCAR opened at $105.90 on Friday. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The stock has a market cap of $55.51 billion, a PE ratio of 10.99, a PEG ratio of 1.62 and a beta of 0.91. The firm has a 50-day simple moving average of $99.18 and a 200 day simple moving average of $103.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 1.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $2.34 EPS. On average, research analysts forecast that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Announces Dividend

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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.