PACCAR Inc. $PCAR Stock Position Lowered by Bristlecone Advisors LLC

Bristlecone Advisors LLC cut its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,598 shares of the company’s stock after selling 1,673 shares during the period. Bristlecone Advisors LLC’s holdings in PACCAR were worth $3,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PCAR. FORA Capital LLC purchased a new position in PACCAR in the first quarter valued at about $597,000. China Universal Asset Management Co. Ltd. lifted its position in shares of PACCAR by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after purchasing an additional 4,429 shares during the last quarter. Stack Financial Management Inc acquired a new position in shares of PACCAR during the 1st quarter worth about $20,585,000. Assenagon Asset Management S.A. lifted its position in shares of PACCAR by 46.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after purchasing an additional 88,551 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new position in shares of PACCAR during the 1st quarter worth about $246,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Trading Down 1.9%

PACCAR stock opened at $99.17 on Wednesday. The business has a 50 day moving average price of $98.56 and a two-hundred day moving average price of $95.91. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $52.07 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 4.23 and a beta of 0.94. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue was down 20.7% on a year-over-year basis. During the same period last year, the company earned $1.85 EPS. As a group, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR’s dividend payout ratio is 25.83%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PCAR. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group reissued a “hold” rating and set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. Truist Financial boosted their price objective on PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $90.00 price objective on PACCAR in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and an average target price of $106.59.

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.