Mutual of America Capital Management LLC Sells 780 Shares of PACCAR Inc. $PCAR

Mutual of America Capital Management LLC lowered its holdings in PACCAR Inc. (NASDAQ:PCAR) by 1.3% during the second quarter, HoldingsChannel.com reports. The fund owned 60,214 shares of the company’s stock after selling 780 shares during the period. Mutual of America Capital Management LLC’s holdings in PACCAR were worth $5,724,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PCAR. E Fund Management Hong Kong Co. Ltd. increased its stake in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after acquiring an additional 240 shares during the period. Hazlett Burt & Watson Inc. increased its stake in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Alpine Bank Wealth Management bought a new stake in PACCAR in the first quarter valued at about $29,000. Bayforest Capital Ltd increased its stake 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 period. Finally, Accent Capital Management LLC bought a new stake in PACCAR during the first quarter worth about $40,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related 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 transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 price objective on shares of PACCAR in a research note on Tuesday. Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research note on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PACCAR in a research note on Wednesday, October 8th. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. Finally, Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $104.86.

PACCAR Price Performance

Shares of PCAR stock opened at $99.85 on Wednesday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The firm’s 50 day moving average is $98.50 and its 200-day moving average is $95.51. The firm has a market capitalization of $52.43 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 4.00 and a beta of 0.94. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. PACCAR’s revenue for the quarter was down 20.7% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm 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. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 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.