Optas LLC Sells 724 Shares of PACCAR Inc. $PCAR

Optas LLC trimmed its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 25.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,116 shares of the company’s stock after selling 724 shares during the quarter. Optas LLC’s holdings in PACCAR were worth $201,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 purchasing an additional 987,805 shares during the last quarter. Northern Trust Corp grew its stake in shares of PACCAR by 0.5% during the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock valued at $704,956,000 after purchasing an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 97,197 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling at PACCAR

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

PACCAR Trading Down 2.3%

PCAR opened at $93.00 on Friday. The firm’s fifty day moving average is $98.73 and its two-hundred day moving average is $95.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The firm has a market cap of $48.83 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.88 and a beta of 0.94. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR) last posted 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. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business posted $2.13 earnings per share. Equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is 22.60%.

Analyst Ratings Changes

Several research firms have recently commented on PCAR. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Truist Financial set a $97.00 price objective on shares of PACCAR and gave the company a “hold” rating in a report on Wednesday. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.59.

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.