PACCAR Inc (NASDAQ:PCAR) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,890 shares of the company’s stock after selling 171 shares during the period. Riverwater Partners LLC’s holdings in PACCAR were worth $577,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Riverview Trust Co acquired a new position in PACCAR during the 1st quarter worth $29,000. Vanguard Capital Wealth Advisors bought a new position in PACCAR in the 1st quarter valued at about $213,000. Hennessy Advisors Inc. bought a new stake in shares of PACCAR during the 1st quarter worth about $3,605,000. Indiana Trust & Investment Management CO lifted its stake in shares of PACCAR by 337.9% in the 1st quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock worth $67,000 after acquiring an additional 419 shares during the period. Finally, OneAscent Wealth Management LLC bought a new position in shares of PACCAR in the first quarter valued at approximately $225,000. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

NASDAQ PCAR opened at $103.80 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The firm has a market capitalization of $54.41 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a 50 day simple moving average of $98.98 and a 200-day simple moving average of $103.41. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter last year, the business posted $2.34 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities research analysts predict that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. 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 1.16%. PACCAR’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PCAR has been the subject of several research analyst reports. Citigroup upped their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Evercore ISI cut their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $114.18.

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.