Moors & Cabot Inc. Sells 121 Shares of PACCAR Inc (NASDAQ:PCAR)

Moors & Cabot Inc. lowered its position in PACCAR Inc (NASDAQ:PCAR) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,294 shares of the company’s stock after selling 121 shares during the period. Moors & Cabot Inc.’s holdings in PACCAR were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR during the first quarter worth approximately $27,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the first quarter worth approximately $27,000. Riverview Trust Co purchased a new position in shares of PACCAR during the first quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in shares of PACCAR during the first quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. increased its position in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price 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. JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial cut their price objective 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 cut their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average price target of $112.73.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR 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 directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction 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.

PACCAR Price Performance

NASDAQ PCAR opened at $98.91 on Friday. The firm’s fifty day simple moving average is $96.95 and its two-hundred day simple moving average is $106.20. 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 Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The firm has a market capitalization of $51.85 billion, a P/E ratio of 10.26, a P/E/G ratio of 1.48 and a beta of 0.91.

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). 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 in the previous year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. PACCAR’s 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.