PACCAR Inc. $PCAR Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC trimmed its holdings in PACCAR Inc. (NASDAQ:PCAR) by 3.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,732 shares of the company’s stock after selling 296 shares during the quarter. GAMMA Investing LLC’s holdings in PACCAR were worth $830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR in the 1st quarter valued at $29,000. Sunbelt Securities Inc. raised its stake in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Bayforest Capital Ltd lifted its position in PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after acquiring an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in PACCAR in the first quarter valued at $40,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $97.75 on Wednesday. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a 50-day simple moving average of $98.89 and a 200-day simple moving average of $95.83. The company has a market capitalization of $51.33 billion, a PE ratio of 16.74, a P/E/G ratio of 3.90 and a beta of 0.94.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s payout ratio is currently 22.60%.

Insider Buying and Selling at PACCAR

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, July 28th. Evercore ISI set a $114.00 price objective on PACCAR and gave the company an “outperform” rating in a research note on Tuesday, August 19th. UBS Group upgraded shares of PACCAR from a “sell” rating to a “neutral” rating and raised their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of 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. increased their price target on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.68.

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.