PACCAR Inc (NASDAQ:PCAR) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,023 shares of the company’s stock after selling 661 shares during the period. Bristlecone Advisors LLC’s holdings in PACCAR were worth $9,969,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of PACCAR by 1.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 547,111 shares of the company’s stock worth $53,534,000 after purchasing an additional 6,115 shares during the last quarter. GHP Investment Advisors Inc. grew its position in PACCAR by 6.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 57,351 shares of the company’s stock worth $5,659,000 after purchasing an additional 3,563 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of PACCAR by 11.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 385,473 shares of the company’s stock worth $38,038,000 after purchasing an additional 38,498 shares in the last quarter. Forsta AP Fonden increased its stake in PACCAR by 11.7% during the 3rd quarter. Forsta AP Fonden now owns 184,500 shares of the company’s stock valued at $18,206,000 after buying an additional 19,300 shares during the period. Finally, Mediolanum International Funds Ltd lifted its position in PACCAR by 157.8% in the third quarter. Mediolanum International Funds Ltd now owns 127,280 shares of the company’s stock worth $12,469,000 after purchasing an additional 77,917 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $105.90 on Friday. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company’s 50 day moving average price is $99.39 and its two-hundred day moving average price is $103.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.91 and a quick ratio of 2.54. The firm has a market capitalization of $55.51 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91.

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

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PCAR shares. Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $114.18.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is currently owned by company insiders.

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.