Atlantic Edge Private Wealth Management LLC Sells 210 Shares of PACCAR Inc. $PCAR

Atlantic Edge Private Wealth Management LLC lessened its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,941 shares of the company’s stock after selling 210 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in PACCAR were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock worth $6,133,914,000 after buying an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP grew its stake in PACCAR by 20.1% in the 1st 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 grew its stake in PACCAR by 9.2% in the 1st 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 grew its stake in PACCAR by 0.5% in the 1st 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 grew its stake in PACCAR by 1.6% in the 1st 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 own 64.90% of the company’s stock.

Insider Transactions at PACCAR

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

PACCAR Price Performance

Shares of PACCAR stock opened at $97.48 on Tuesday. The company’s fifty day simple moving average is $98.48 and its two-hundred day simple moving average is $95.48. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The firm has a market cap of $51.19 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) 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 firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter in the previous year, the company earned $2.13 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a $0.33 dividend. 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 payout ratio is presently 22.60%.

Analysts Set New Price Targets

A number of equities analysts have commented on PCAR shares. UBS Group raised shares of PACCAR from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $97.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.14.

PACCAR 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.