Everett Harris & Co. CA Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

Everett Harris & Co. CA reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 1.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,648 shares of the company’s stock after selling 172 shares during the quarter. Everett Harris & Co. CA’s holdings in PACCAR were worth $1,567,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PCAR. Raymond James Financial Services Advisors Inc. increased its stake in shares of PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after purchasing an additional 16,360 shares in the last quarter. abrdn plc raised its stake in PACCAR by 50.9% during the fourth quarter. abrdn plc now owns 264,756 shares of the company’s stock worth $25,853,000 after purchasing an additional 89,359 shares during the period. Pacer Advisors Inc. boosted its holdings in PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after purchasing an additional 16,390 shares during the last quarter. California State Teachers Retirement System increased its stake in PACCAR by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after acquiring an additional 9,978 shares during the last quarter. Finally, Nilsine Partners LLC purchased a new stake in PACCAR in the fourth quarter valued at $1,337,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock valued at $4,779,241 in the last ninety days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded up $1.09 on Thursday, reaching $102.00. 1,860,059 shares of the company were exchanged, compared to its average volume of 2,897,979. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $80.91 and a 1-year high of $125.50. The company has a 50-day moving average of $106.90 and a 200-day moving average of $107.80. The firm has a market cap of $53.46 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. Equities analysts forecast that PACCAR Inc will post 8.34 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. PACCAR’s dividend payout ratio is currently 12.45%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PCAR shares. Citigroup assumed coverage on PACCAR in a research report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Royal Bank of Canada started coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective for the company. Finally, UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.92.

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.