129,800 PACCAR Inc. $PCAR Shares Sold by Vest Financial LLC

Vest Financial LLC cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 45.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,250 shares of the company’s stock after selling 129,800 shares during the period. Vest Financial LLC’s holdings in PACCAR were worth $17,268,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Sowell Financial Services LLC raised its stake in PACCAR by 5.8% in the third quarter. Sowell Financial Services LLC now owns 9,970 shares of the company’s stock valued at $1,095,000 after buying an additional 551 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of PACCAR by 1.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 192,695 shares of the company’s stock worth $21,160,000 after acquiring an additional 2,227 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of PACCAR by 34.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 128,742 shares of the company’s stock worth $14,137,000 after acquiring an additional 32,839 shares during the period. Lakeside Advisors INC. increased its holdings in shares of PACCAR by 2.3% during the 3rd quarter. Lakeside Advisors INC. now owns 34,989 shares of the company’s stock worth $3,842,000 after acquiring an additional 792 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of PACCAR by 1.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,045 shares of the company’s stock worth $8,351,000 after acquiring an additional 778 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCAR shares. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Truist Financial set a $125.00 price objective on PACCAR and gave the company a “hold” rating in a report on Monday, October 5th. JPMorgan Chase & Co. lowered their price objective on PACCAR from $164.00 to $142.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Jefferies Financial Group increased their price objective on PACCAR from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Friday, September 4th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $133.88.

Insider Buying and Selling

In other news, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Feight sold 50,975 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by corporate insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $109.59 on Friday. The firm has a 50-day moving average price of $117.80 and a two-hundred day moving average price of $120.30. PACCAR Inc. has a 12-month low of $93.86 and a 12-month high of $139.24. The company has a market capitalization of $57.68 billion, a P/E ratio of 23.02, a P/E/G ratio of 1.26 and a beta of 0.98. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Analysts anticipate that PACCAR Inc. will post 5.91 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 11th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 10th. PACCAR’s payout ratio is 29.41%.

PACCAR Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.