PACCAR Inc (NASDAQ:PCAR) Shares Sold by Monument Capital Management

Monument Capital Management reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 5.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,083 shares of the company’s stock after selling 2,008 shares during the quarter. PACCAR comprises about 1.1% of Monument Capital Management’s portfolio, making the stock its 19th largest holding. Monument Capital Management’s holdings in PACCAR were worth $3,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in PACCAR during the 4th quarter valued at about $448,288,000. TD Asset Management Inc boosted its position in PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after buying an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in PACCAR in the 4th quarter worth approximately $87,441,000. Epoch Investment Partners Inc. raised its position in PACCAR by 113.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after buying an additional 562,571 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in PACCAR by 226.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 574,690 shares of the company’s stock valued at $71,198,000 after acquiring an additional 398,804 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at $154,301.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on PCAR shares. Citigroup initiated coverage on shares of PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Truist Financial decreased their price objective on PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday. The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, StockNews.com cut PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.92.

PACCAR Price Performance

PCAR traded up $0.28 during trading on Wednesday, hitting $101.19. The company’s stock had a trading volume of 657,594 shares, compared to its average volume of 2,524,077. The firm has a market capitalization of $53.04 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.23 and a beta of 0.92. PACCAR Inc has a twelve month low of $80.91 and a twelve month high of $125.50. The business’s fifty day simple moving average is $107.14 and its 200 day simple moving average is $107.84. 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 EPS. On average, equities research analysts forecast that PACCAR Inc will post 8.34 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is 12.45%.

About PACCAR

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.