Inspire Investing LLC Decreases Position in PACCAR Inc (NASDAQ:PCAR)

Inspire Investing LLC lessened its position in PACCAR Inc (NASDAQ:PCAR) by 16.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 59,022 shares of the company’s stock after selling 11,867 shares during the period. PACCAR comprises 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 25th largest holding. Inspire Investing LLC’s holdings in PACCAR were worth $5,824,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PCAR. State Board of Administration of Florida Retirement System boosted its stake 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 valued at $75,689,000 after purchasing an additional 27,963 shares during the period. BDF Gestion purchased a new position in PACCAR during the second quarter valued at approximately $2,862,000. Advisory Services Network LLC raised its position in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in PACCAR by 18.7% in 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 in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of PACCAR during the 1st quarter worth approximately $1,359,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on 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 owns 162,782 shares in the company, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI cut their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price target on PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Citigroup upped their price objective on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $114.00.

PACCAR Stock Performance

NASDAQ PCAR opened at $106.80 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The stock’s fifty day moving average is $96.64 and its two-hundred day moving average is $104.27. The firm has a market capitalization of $55.99 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business earned $2.33 EPS. On average, research analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. PACCAR’s payout ratio is presently 12.71%.

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.