Claris Advisors LLC MO Sells 108 Shares of PACCAR Inc. $PCAR

Claris Advisors LLC MO cut its position in PACCAR Inc. (NASDAQ:PCAR) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,101 shares of the company’s stock after selling 108 shares during the quarter. Claris Advisors LLC MO’s holdings in PACCAR were worth $675,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FORA Capital LLC acquired a new position in shares of PACCAR in the first quarter valued at approximately $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in PACCAR by 15.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock valued at $77,404,000 after acquiring an additional 104,281 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in PACCAR by 62.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock valued at $3,533,000 after acquiring an additional 13,904 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of PACCAR by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock valued at $1,262,000 after acquiring an additional 4,429 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its holdings in shares of PACCAR by 28.8% during the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company’s stock worth $22,898,000 after purchasing an additional 52,525 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. UBS Group raised 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. JPMorgan Chase & Co. raised their price objective on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Vertical Research raised PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Truist Financial lowered their price target on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.68.

Insider Buying and Selling at PACCAR

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

PACCAR Trading Down 0.6%

NASDAQ PCAR opened at $99.85 on Tuesday. The stock has a market capitalization of $52.43 billion, a P/E ratio of 17.10, a P/E/G ratio of 4.03 and a beta of 0.94. The business has a 50 day simple moving average of $99.22 and a 200 day simple moving average of $95.64. 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 Inc. has a one year low of $84.65 and a one year high of $118.81.

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

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

PACCAR Company 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.