PACCAR Inc (NASDAQ:PCAR) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 66.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,516 shares of the company’s stock after selling 42,519 shares during the period. Bar Harbor Wealth Management’s holdings in PACCAR were worth $2,123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its holdings in shares of PACCAR by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after purchasing an additional 27,963 shares during the period. BDF Gestion acquired a new stake in shares of PACCAR during the second quarter worth $2,862,000. Advisory Services Network LLC raised its holdings in shares of PACCAR by 15.9% during the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after purchasing an additional 7,678 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after purchasing an additional 105,109 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of PACCAR in the 1st quarter worth about $1,359,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Truist Financial dropped their price objective on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Evercore ISI dropped their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Citigroup increased their price objective on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average target price of $114.00.

PACCAR Stock Performance

NASDAQ:PCAR opened at $107.56 on Friday. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $97.84 and a 200-day moving average of $103.94. The firm has a market cap of $56.38 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter last year, the business posted $2.33 EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced 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. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 12.45%.

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.