Sowell Financial Services LLC Decreases Stake in PACCAR Inc. (NASDAQ:PCAR)

Sowell Financial Services LLC lowered its holdings in PACCAR Inc. (NASDAQ:PCAR) by 14.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,118 shares of the company’s stock after selling 2,996 shares during the period. Sowell Financial Services LLC’s holdings in PACCAR were worth $1,764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. raised its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after buying an additional 350 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of PACCAR in the 4th quarter worth $43,000. Finally, Atala Financial Inc bought a new position in shares of PACCAR in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase 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 owned by corporate insiders.

PACCAR Price Performance

NASDAQ:PCAR opened at $91.10 on Wednesday. The company has a fifty day moving average price of $92.15 and a 200 day moving average price of $100.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. The stock has a market cap of $47.82 billion, a P/E ratio of 13.80, a PEG ratio of 3.43 and a beta of 0.95. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the business earned $2.27 EPS. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. Analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and cut their target price for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Citigroup lowered their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI reduced their target price on PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $104.14.

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.