Susquehanna Fundamental Investments LLC Sells 74,340 Shares of PACCAR Inc. $PCAR

Susquehanna Fundamental Investments LLC trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 20.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,577 shares of the company’s stock after selling 74,340 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in PACCAR were worth $35,625,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in PACCAR during the second quarter valued at $4,927,720,000. Bank of America Corp DE bought a new position in shares of PACCAR in the second quarter worth about $1,130,496,000. Norges Bank bought a new position in shares of PACCAR in the fourth quarter worth about $727,745,000. Bank of New York Mellon Corp purchased a new position in shares of PACCAR during the 2nd quarter valued at about $453,107,000. Finally, Wellington Management Group LLP lifted its position in shares of PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the sale, the vice president owned 3,831 shares in the company, valued at $512,970.90. The trade was a 43.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of PCAR opened at $125.34 on Monday. The business’s 50 day moving average is $127.35 and its 200 day moving average is $121.89. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a market capitalization of $65.97 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is currently 29.41%.

Analyst Ratings Changes

PCAR has been the subject of several analyst reports. Truist Financial increased their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Morgan Stanley set a $119.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $131.70.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.