PACCAR Inc (NASDAQ:PCAR) Stake Lessened by Leonard Rickey Investment Advisors P.L.L.C.

Leonard Rickey Investment Advisors P.L.L.C. lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 10.8% in the first quarter, Holdings Channel.com reports. The firm owned 2,058 shares of the company’s stock after selling 249 shares during the period. Leonard Rickey Investment Advisors P.L.L.C.’s holdings in PACCAR were worth $255,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter valued at $29,000. Rise Advisors LLC purchased a new stake in shares of PACCAR in the first quarter valued at $31,000. AdvisorNet Financial Inc increased its stake in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. ORG Partners LLC increased its stake in shares of PACCAR by 6,200.0% in the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after acquiring an additional 372 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of PACCAR in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of a number of research reports. Citigroup initiated coverage on shares of PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price target on the stock. StockNews.com downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Raymond James initiated coverage on shares of PACCAR in a research note on Friday. They issued a “market perform” rating on the stock. The Goldman Sachs Group upped their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada started coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued 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 given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.92.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $0.87 during midday trading on Tuesday, hitting $100.97. The company’s stock had a trading volume of 963,713 shares, compared to its average volume of 2,525,042. The stock has a market capitalization of $52.92 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.23 and a beta of 0.92. The stock’s 50 day simple moving average is $107.60 and its 200 day simple moving average is $107.77. PACCAR Inc has a fifty-two week low of $80.91 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.25 earnings per share. As a group, research analysts anticipate that PACCAR Inc will post 8.35 earnings per share for the current year.

PACCAR Increases Dividend

The firm 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. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Insider Activity

In related news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were 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 owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by 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.