Soltis Investment Advisors LLC Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Soltis Investment Advisors LLC cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 4.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,921 shares of the company’s stock after selling 145 shares during the period. Soltis Investment Advisors LLC’s holdings in PACCAR were worth $288,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in shares of PACCAR by 8.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,424 shares of the company’s stock worth $661,000 after acquiring an additional 486 shares in the last quarter. ORG Partners LLC boosted its position in PACCAR by 7,560.0% during the second quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after purchasing an additional 378 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after purchasing an additional 5,437 shares during the period. Swedbank AB increased its position in shares of PACCAR by 9.7% in the second quarter. Swedbank AB now owns 331,326 shares of the company’s stock valued at $34,107,000 after buying an additional 29,238 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of PACCAR by 170.8% during the 2nd quarter. Blue Trust Inc. now owns 1,400 shares of the company’s stock worth $144,000 after buying an additional 883 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

PCAR stock opened at $112.80 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm has a market capitalization of $59.14 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The business has a 50 day simple moving average of $110.53 and a 200-day simple moving average of $103.83.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 13.41%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PCAR shares. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lifted their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $118.25.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

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.