STF Management LP Trims Position in PACCAR Inc (NASDAQ:PCAR)

STF Management LP reduced its position in PACCAR Inc (NASDAQ:PCAR) by 7.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,639 shares of the company’s stock after selling 625 shares during the period. STF Management LP’s holdings in PACCAR were worth $754,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Shell Asset Management Co. purchased a new position in PACCAR during the first quarter worth about $414,000. CreativeOne Wealth LLC purchased a new position in shares of PACCAR during the 1st quarter worth about $404,000. EP Wealth Advisors LLC boosted its position in shares of PACCAR by 5.9% in the first quarter. EP Wealth Advisors LLC now owns 16,654 shares of the company’s stock worth $2,063,000 after acquiring an additional 930 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in PACCAR by 43.5% in the first quarter. Advisors Asset Management Inc. now owns 16,913 shares of the company’s stock valued at $2,095,000 after purchasing an additional 5,129 shares during the period. Finally, Capital International Inc. CA increased its position in PACCAR by 40.2% during the first quarter. Capital International Inc. CA now owns 30,337 shares of the company’s stock worth $3,758,000 after purchasing an additional 8,701 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $117.64.

PACCAR Stock Performance

PACCAR stock opened at $114.08 on Friday. The company has a market cap of $59.81 billion, a PE ratio of 12.75, a P/E/G ratio of 1.73 and a beta of 0.89. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a fifty day moving average price of $105.38 and a two-hundred day moving average price of $102.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $7.66 billion. During the same period in the previous year, the business posted $2.34 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Research analysts expect that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

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 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. 2.02% of the stock is currently 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.