Leeward Financial Partners LLC Has $2.31 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Leeward Financial Partners LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 15.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,603 shares of the company’s stock after selling 3,291 shares during the quarter. Leeward Financial Partners LLC’s holdings in PACCAR were worth $2,305,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. AdvisorNet Financial Inc raised its position in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Riverview Trust Co acquired a new stake in shares of PACCAR during the first quarter worth about $29,000. Rise Advisors LLC acquired a new stake in shares of PACCAR during the first quarter worth about $31,000. Bruce G. Allen Investments LLC acquired a new stake in shares of PACCAR during the fourth quarter worth about $37,000. Finally, ORG Partners LLC raised its position in shares of PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after purchasing an additional 372 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of research reports. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. JPMorgan Chase & Co. decreased their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Truist Financial decreased their price objective on PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday. Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. Finally, StockNews.com downgraded PACCAR from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $113.92.

PACCAR Price Performance

Shares of PACCAR stock traded up $1.09 during trading on Wednesday, reaching $102.00. 1,860,059 shares of the company’s stock were exchanged, compared to its average volume of 2,533,545. The company has a market cap of $53.46 billion, a P/E ratio of 10.51, a PEG ratio of 1.23 and a beta of 0.92. PACCAR Inc has a 1-year low of $80.91 and a 1-year 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. The firm’s 50-day moving average price is $107.14 and its 200 day moving average price is $107.84.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the previous year, the company posted $2.25 EPS. PACCAR’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc will post 8.34 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. Shareholders of record on Wednesday, May 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is 12.45%.

Insider Activity

In other news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock valued at $4,779,241 in the last ninety days. 2.02% of the stock is owned by company insiders.

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.