International Assets Investment Management LLC Sells 2,620 Shares of PACCAR Inc (NASDAQ:PCAR)

International Assets Investment Management LLC trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 40.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,783 shares of the company’s stock after selling 2,620 shares during the period. International Assets Investment Management LLC’s holdings in PACCAR were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of PACCAR by 32.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 708,737 shares of the company’s stock worth $72,957,000 after purchasing an additional 172,771 shares during the period. Crossmark Global Holdings Inc. raised its position in PACCAR by 52.0% in the second quarter. Crossmark Global Holdings Inc. now owns 44,255 shares of the company’s stock worth $4,555,000 after acquiring an additional 15,137 shares during the period. Principal Financial Group Inc. boosted its stake in shares of PACCAR by 1.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after acquiring an additional 48,784 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of PACCAR in the 2nd quarter worth $264,000. Finally, HB Wealth Management LLC lifted its position in PACCAR by 31.1% during the second quarter. HB Wealth Management LLC now owns 30,468 shares of the company’s stock valued at $3,136,000 after purchasing an additional 7,229 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

PCAR stock opened at $96.18 on Friday. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The firm has a market capitalization of $50.41 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.92. The company has a fifty day simple moving average of $99.29 and a two-hundred day simple moving average of $107.73. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the previous year, the business posted $2.33 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. Analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup lowered their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $112.73.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.02% of the company’s stock.

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.