Bokf Na Sells 1,833 Shares of PACCAR Inc (NASDAQ:PCAR)

Bokf Na reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,007 shares of the company’s stock after selling 1,833 shares during the quarter. Bokf Na’s holdings in PACCAR were worth $1,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. State Board of Administration of Florida Retirement System raised its holdings in PACCAR by 4.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after buying an additional 27,963 shares during the period. BDF Gestion purchased a new stake in shares of PACCAR in the second quarter valued at $2,862,000. California State Teachers Retirement System lifted its holdings in shares of PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after acquiring an additional 9,978 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after purchasing an additional 7,678 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in PACCAR by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after purchasing an additional 105,109 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction 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 Securities & Exchange Commission, which is available through this link. 2.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup dropped their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial cut their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, Evercore ISI lowered their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $112.73.

PACCAR Stock Up 0.1 %

PCAR stock opened at $95.12 on Friday. The company has a quick ratio of 2.54, a current ratio of 2.78 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. The stock has a market capitalization of $49.86 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91. The firm has a 50 day moving average of $97.40 and a 200 day moving average of $106.66.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

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.