Jacobi Capital Management LLC Sells 339 Shares of PACCAR Inc (NASDAQ:PCAR)

Jacobi Capital Management LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,949 shares of the company’s stock after selling 339 shares during the quarter. Jacobi Capital Management LLC’s holdings in PACCAR were worth $489,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PSI Advisors LLC purchased a new stake in shares of PACCAR in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the 1st quarter worth $27,000. Riverview Trust Co bought a new position in shares of PACCAR during the 1st quarter worth $29,000. Rise Advisors LLC purchased a new position in shares of PACCAR during the first quarter valued at $31,000. Finally, AdvisorNet Financial Inc raised its holdings in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Raymond James started coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective on the stock. The Goldman Sachs Group lifted their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Truist Financial cut their price objective on shares of PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lowered their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $114.67.

PACCAR Stock Performance

Shares of PCAR stock traded down $9.32 during trading on Tuesday, reaching $99.74. The company had a trading volume of 1,407,564 shares, compared to its average volume of 2,532,985. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a market capitalization of $52.28 billion, a PE ratio of 10.51, a PEG ratio of 1.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The firm’s 50 day simple moving average is $106.03 and its two-hundred day simple moving average is $108.61.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 earnings per share. Sell-side analysts forecast that PACCAR Inc will post 8.35 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. PACCAR’s payout ratio is presently 12.45%.

Insider Activity at PACCAR

In related news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 in the last 90 days. 2.02% of the stock is 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.