Elo Mutual Pension Insurance Co Sells 2,899 Shares of PACCAR Inc (NASDAQ:PCAR)

Elo Mutual Pension Insurance Co trimmed its position in PACCAR Inc (NASDAQ:PCAR) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,895 shares of the company’s stock after selling 2,899 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PACCAR were worth $4,621,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new stake in PACCAR during the 1st quarter worth $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the first quarter worth about $27,000. Riverview Trust Co acquired a new stake in shares of PACCAR during the first quarter worth about $29,000. Rise Advisors LLC acquired a new position in shares of PACCAR in the 1st quarter valued at approximately $31,000. Finally, Meeder Asset Management Inc. grew its position in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $96.32 on Thursday. The stock has a market capitalization of $50.49 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.47 and a beta of 0.91. The business has a 50-day moving average of $97.11 and a 200-day moving average of $106.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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). 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%. PACCAR’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. As a group, sell-side analysts predict that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Raymond James began coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial cut their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Citigroup decreased their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Evercore ISI cut their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note 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 has a consensus rating of “Hold” and an average price target of $112.73.

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.