Mutual of America Capital Management LLC Cuts Stake in PACCAR Inc (NASDAQ:PCAR)

Mutual of America Capital Management LLC cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.2% during the first quarter, Holdings Channel reports. The firm owned 68,603 shares of the company’s stock after selling 1,559 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PACCAR were worth $8,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Miracle Mile Advisors LLC increased its holdings in PACCAR by 3.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after acquiring an additional 91 shares during the last quarter. Morningstar Investment Management LLC increased its holdings in shares of PACCAR by 1.3% in the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after purchasing an additional 97 shares during the last quarter. Graypoint LLC lifted its position in shares of PACCAR by 2.9% in the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock worth $441,000 after buying an additional 99 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in PACCAR by 3.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after buying an additional 100 shares during the last quarter. Finally, Evanson Asset Management LLC grew its holdings in PACCAR by 3.5% during the 1st quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock valued at $400,000 after buying an additional 108 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of 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 legal filing with the SEC, which is accessible through this link. In other news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

PACCAR stock traded up $0.74 during midday trading on Tuesday, hitting $102.02. 660,809 shares of the company’s stock were exchanged, compared to its average volume of 2,517,266. The stock has a market cap of $53.47 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The firm’s 50 day simple moving average is $106.21 and its 200 day simple moving average is $107.98. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 14.30% and a return on equity of 31.71%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 earnings per share. Equities research analysts predict that PACCAR Inc will post 8.34 EPS for the current year.

PACCAR Increases Dividend

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

Analysts Set New Price Targets

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

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.