PACCAR Inc (NASDAQ:PCAR) Stake Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,898,757 shares of the company’s stock after selling 72,594 shares during the period. Massachusetts Financial Services Co. MA owned 1.32% of PACCAR worth $710,158,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. PSI Advisors LLC bought a new stake in PACCAR during the first quarter valued at about $25,000. YHB Investment Advisors Inc. bought a new position in shares of PACCAR in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR in the first quarter valued at approximately $27,000. Riverview Trust Co bought a new position in shares of PACCAR in the first quarter valued at approximately $29,000. Finally, Rise Advisors LLC acquired a new stake in shares of PACCAR in the first quarter valued at approximately $31,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 0.6 %

PCAR opened at $95.70 on Tuesday. The stock has a market capitalization of $50.17 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The firm’s fifty day simple moving average is $97.28 and its 200 day simple moving average is $106.52. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 earnings per share. As a group, research analysts anticipate that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.25%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PCAR. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Raymond James assumed coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial reduced their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Finally, Evercore ISI reduced their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.73.

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.