PACCAR Inc (NASDAQ:PCAR) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 88.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,161 shares of the company’s stock after selling 40,457 shares during the quarter. Independent Advisor Alliance’s holdings in PACCAR were worth $509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Harvest Fund Management Co. Ltd increased its position in shares of PACCAR by 52.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 24,147 shares of the company’s stock worth $2,383,000 after acquiring an additional 8,287 shares during the period. Fisher Asset Management LLC grew its stake in PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in PACCAR by 11.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 99,145 shares of the company’s stock worth $9,784,000 after purchasing an additional 10,570 shares in the last quarter. Alpha DNA Investment Management LLC increased its holdings in PACCAR by 81.3% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,761 shares of the company’s stock worth $865,000 after purchasing an additional 3,930 shares during the period. Finally, Sompo Asset Management Co. Ltd. raised its position in PACCAR by 7.5% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 5,480 shares of the company’s stock valued at $541,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent research reports. Morgan Stanley cut their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial increased their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $117.64.

PACCAR Trading Up 0.3 %

NASDAQ PCAR opened at $116.18 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $60.91 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The firm has a 50-day moving average price of $106.94 and a 200 day moving average price of $103.19.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the firm earned $2.34 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities research analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

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.