Bristlecone Advisors LLC Has $3.95 Million Holdings in PACCAR Inc. $PCAR

Bristlecone Advisors LLC cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,598 shares of the company’s stock after selling 1,673 shares during the period. Bristlecone Advisors LLC’s holdings in PACCAR were worth $3,954,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Hazlett Burt & Watson Inc. increased its holdings in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Bayforest Capital Ltd increased its holdings in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after purchasing an additional 274 shares in the last quarter. Accent Capital Management LLC acquired a new stake in PACCAR during the 1st quarter valued at $40,000. Marshall & Sullivan Inc. WA acquired a new stake in PACCAR during the 2nd quarter valued at $43,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in PACCAR during the 1st quarter valued at $58,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Down 1.9%

Shares of PCAR opened at $99.17 on Wednesday. The firm has a market capitalization of $52.07 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 4.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. The business’s fifty day moving average price is $98.56 and its two-hundred day moving average price is $95.91. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. On average, analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s payout ratio is 25.83%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of recent analyst reports. Evercore ISI set a $114.00 price target on PACCAR and gave the company an “outperform” rating in a report on Tuesday, August 19th. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. JPMorgan Chase & Co. raised their price target on PACCAR from $103.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Truist Financial raised their price target on PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Finally, UBS Group set a $103.00 price target on PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $106.59.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is currently owned by company insiders.

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.