Beverly Hills Private Wealth LLC Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Beverly Hills Private Wealth LLC cut its stake in PACCAR Inc (NASDAQ:PCAR) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,333 shares of the company’s stock after selling 2,928 shares during the period. Beverly Hills Private Wealth LLC’s holdings in PACCAR were worth $1,699,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Madrona Financial Services LLC boosted its holdings in shares of PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after acquiring an additional 91 shares in the last quarter. Global Financial Private Client LLC raised its holdings in PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc grew its stake in PACCAR by 3.7% in the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after acquiring an additional 101 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of PACCAR by 14.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock worth $88,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

PCAR opened at $89.90 on Friday. The company has a 50 day moving average of $95.97 and a two-hundred day moving average of $104.81. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a market cap of $47.19 billion, a P/E ratio of 11.37, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.27 earnings per share. On average, analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR’s dividend payout ratio is presently 16.69%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PCAR. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. StockNews.com downgraded PACCAR from a “hold” rating to a “sell” rating in a research report on Thursday. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $107.23.

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.