PACCAR Inc. $PCAR Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 30.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 53,158 shares of the company’s stock after selling 22,760 shares during the period. Inspire Investing LLC’s holdings in PACCAR were worth $5,053,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after buying an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after buying an additional 987,805 shares in the last quarter. Northern Trust Corp lifted its stake in shares of PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after buying an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PACCAR by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after buying an additional 97,197 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $93.00 on Friday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The stock has a market cap of $48.83 billion, a PE ratio of 15.92, a P/E/G ratio of 3.88 and a beta of 0.94. The firm has a 50-day simple moving average of $98.73 and a two-hundred day simple moving average of $95.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same period last year, the business earned $2.13 earnings per share. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is currently 22.60%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PCAR shares. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Citigroup raised their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, July 28th. Truist Financial set a $97.00 price target on shares of PACCAR and gave the stock a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

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.