PACCAR Inc (NASDAQ:PCAR) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,366 shares of the company’s stock after selling 2,598 shares during the period. Atria Wealth Solutions Inc.’s holdings in PACCAR were worth $7,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Security National Bank grew its position in PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in shares of PACCAR by 24.8% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,978 shares of the company’s stock valued at $307,000 after acquiring an additional 591 shares during the period. Capital Investment Counsel Inc grew its stake in PACCAR by 10.3% during the 2nd quarter. Capital Investment Counsel Inc now owns 9,675 shares of the company’s stock valued at $996,000 after purchasing an additional 900 shares during the last quarter. Summit Global Investments acquired a new position in shares of PACCAR in the second quarter valued at about $952,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of PACCAR in the second quarter worth about $625,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PCAR shares. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup decreased their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Truist Financial cut their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $112.73.

PACCAR Price Performance

PCAR traded up $0.33 during midday trading on Wednesday, hitting $96.02. 1,255,241 shares of the company traded hands, compared to its average volume of 2,646,672. The company has a market capitalization of $50.34 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.45 and a beta of 0.92. The business has a 50 day simple moving average of $100.75 and a two-hundred day simple moving average of $108.16. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. PACCAR’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 EPS. On average, equities analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared 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. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is currently 12.45%.

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.