Applied Finance Capital Management LLC Reduces Stock Position in PACCAR Inc. $PCAR

Applied Finance Capital Management LLC lessened its stake in shares of PACCAR Inc. (NASDAQ:PCARFree Report) by 49.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,572 shares of the company’s stock after selling 8,392 shares during the quarter. Applied Finance Capital Management LLC’s holdings in PACCAR were worth $815,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after buying an additional 240 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR in the first quarter worth approximately $29,000. Bayforest Capital Ltd boosted its holdings in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new position in shares of PACCAR in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PCAR. Zacks Research downgraded shares of PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of PACCAR in a report on Wednesday, October 8th. UBS Group raised shares of PACCAR from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.14.

Check Out Our Latest Analysis on PACCAR

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $94.69 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a market capitalization of $49.72 billion, a P/E ratio of 16.21, a P/E/G ratio of 3.89 and a beta of 0.94. The firm’s 50 day simple moving average is $98.48 and its two-hundred day simple moving average is $95.44.

PACCAR (NASDAQ:PCARGet Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

Insider Activity at PACCAR

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

PACCAR Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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