Great Lakes Advisors LLC Decreases Stake in PACCAR Inc (NASDAQ:PCAR)

Great Lakes Advisors LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,281 shares of the company’s stock after selling 1,202 shares during the quarter. Great Lakes Advisors LLC’s holdings in PACCAR were worth $2,911,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Private Advisor Group LLC grew its position in shares of PACCAR by 17.7% in the fourth quarter. Private Advisor Group LLC now owns 21,433 shares of the company’s stock valued at $2,093,000 after purchasing an additional 3,224 shares in the last quarter. Principal Securities Inc. purchased a new stake in PACCAR in the 4th quarter valued at $429,000. Jump Financial LLC increased its stake in shares of PACCAR by 12.9% in the 4th quarter. Jump Financial LLC now owns 3,984 shares of the company’s stock worth $389,000 after acquiring an additional 456 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of PACCAR by 3.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,364 shares of the company’s stock worth $1,598,000 after acquiring an additional 542 shares during the period. Finally, Forum Financial Management LP boosted its position in shares of PACCAR by 32.8% during the 4th quarter. Forum Financial Management LP now owns 6,079 shares of the company’s stock valued at $594,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 1.8 %

NASDAQ PCAR opened at $94.97 on Tuesday. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The firm has a 50 day moving average of $97.92 and a two-hundred day moving average of $107.10. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $49.79 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued 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). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, research analysts expect that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PCAR. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Truist Financial decreased their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, Raymond James assumed coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $112.73.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is owned by company insiders.

PACCAR Company 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.