Wedmont Private Capital Sells 376 Shares of PACCAR Inc (NASDAQ:PCAR)

Wedmont Private Capital lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 4.5% during the 2nd quarter, Holdings Channel reports. The fund owned 8,058 shares of the company’s stock after selling 376 shares during the period. Wedmont Private Capital’s holdings in PACCAR were worth $831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Miracle Mile Advisors LLC lifted its holdings in shares of PACCAR by 3.8% during the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after purchasing an additional 91 shares during the last quarter. Morningstar Investment Management LLC grew its position in shares of PACCAR by 1.3% during the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after acquiring an additional 97 shares during the period. Graypoint LLC grew its position in shares of PACCAR by 2.9% during the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after acquiring an additional 99 shares during the period. Kingsview Wealth Management LLC grew its position in shares of PACCAR by 3.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after acquiring an additional 100 shares during the period. Finally, Evanson Asset Management LLC grew its position in shares of PACCAR by 3.5% during the 1st quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock valued at $400,000 after acquiring an additional 108 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PCAR. JPMorgan Chase & Co. dropped their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Citigroup lowered their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Truist Financial lowered their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.91.

PACCAR Trading Up 0.5 %

Shares of PCAR stock traded up $0.43 during trading on Tuesday, hitting $92.60. 1,247,781 shares of the stock traded hands, compared to its average volume of 2,660,244. The firm has a market capitalization of $48.54 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The firm’s fifty day moving average price is $102.52 and its 200-day moving average price is $108.54. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 EPS. As a group, research analysts forecast that PACCAR Inc will post 8.11 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.02% of the stock is owned by corporate 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.