PACCAR Inc. $PCAR Shares Sold by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lowered its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 4.1% during the second quarter, HoldingsChannel.com reports. The firm owned 7,942 shares of the company’s stock after selling 341 shares during the period. Sagespring Wealth Partners LLC’s holdings in PACCAR were worth $755,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after buying an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP increased its holdings in PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after acquiring an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PACCAR by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after acquiring an additional 987,805 shares in the last quarter. Northern Trust Corp increased its holdings in PACCAR by 0.5% in the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after acquiring an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in PACCAR by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after acquiring an additional 97,197 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. UBS Group raised shares of PACCAR from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Evercore ISI set a $114.00 price objective on PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of PACCAR in a research report on Wednesday, October 8th. Finally, Citigroup boosted their price target on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.14.

Insider Transactions at PACCAR

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

PACCAR Price Performance

PCAR stock opened at $95.23 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The business has a 50 day simple moving average of $98.56 and a 200-day simple moving average of $95.48. The firm has a market capitalization of $50.01 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 3.88 and a beta of 0.94. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its 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. 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 period in the prior year, the business earned $2.13 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. Equities research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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 $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR’s dividend payout ratio is currently 22.60%.

About PACCAR

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.