PACCAR Inc. (NASDAQ:PCAR) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 7.5% during the first quarter, HoldingsChannel.com reports. The fund owned 19,945 shares of the company’s stock after selling 1,616 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in PACCAR were worth $1,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock worth $6,133,914,000 after acquiring an additional 1,113,520 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock valued at $1,144,578,000 after buying an additional 987,805 shares in the last quarter. Northern Trust Corp grew its holdings in shares of PACCAR by 8.5% during the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock valued at $749,189,000 after buying an additional 565,967 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after buying an additional 97,197 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after buying an additional 4,219,964 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $98.22 on Friday. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The business has a 50-day moving average of $96.34 and a two-hundred day moving average of $97.12. The stock has a market capitalization of $51.58 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR’s payout ratio is currently 22.60%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCAR. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada lowered their price target on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, July 28th. Citigroup lifted their price target on PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.77.

Insider Activity

In related news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by 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.