Hobbs Group Advisors LLC Sells 3,853 Shares of PACCAR Inc (NASDAQ:PCAR)

Hobbs Group Advisors LLC lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 63.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,223 shares of the company’s stock after selling 3,853 shares during the quarter. Hobbs Group Advisors LLC’s holdings in PACCAR were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP purchased a new position in PACCAR in the second quarter worth $26,000. Meeder Asset Management Inc. grew its position in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR during the second quarter worth about $36,000. ORG Partners LLC raised its position in PACCAR by 7,560.0% in the second quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after acquiring an additional 378 shares during the period. Finally, Grove Bank & Trust boosted its stake in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the firm’s 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 transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $115.37 on Wednesday. The company’s 50 day simple moving average is $109.82 and its two-hundred day simple moving average is $103.70. 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 Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a market capitalization of $60.49 billion, a PE ratio of 12.89, a P/E/G ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter last year, the business posted $2.34 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. Analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PCAR shares. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $118.25.

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.