Evergreen Capital Management LLC Sells 751 Shares of PACCAR Inc (NASDAQ:PCAR)

Evergreen Capital Management LLC decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 679,398 shares of the company’s stock after selling 751 shares during the quarter. PACCAR comprises approximately 2.5% of Evergreen Capital Management LLC’s holdings, making the stock its 3rd largest position. Evergreen Capital Management LLC owned about 0.13% of PACCAR worth $69,937,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC acquired a new stake in shares of PACCAR during the fourth quarter worth $542,000. Franklin Resources Inc. boosted its position in shares of PACCAR by 87.9% during the 4th quarter. Franklin Resources Inc. now owns 417,580 shares of the company’s stock worth $40,777,000 after acquiring an additional 195,363 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in PACCAR by 24.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,788 shares of the company’s stock valued at $1,932,000 after purchasing an additional 3,874 shares during the last quarter. Commerce Bank raised its stake in shares of PACCAR by 4.1% during the fourth quarter. Commerce Bank now owns 25,096 shares of the company’s stock valued at $2,451,000 after acquiring an additional 979 shares during the last quarter. Finally, AXS Investments LLC bought a new position in PACCAR during the fourth quarter worth $244,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 0.6 %

NASDAQ:PCAR opened at $98.91 on Monday. 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 business’s 50 day moving average is $96.95 and its two-hundred day moving average is $106.08. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a market cap of $51.85 billion, a PE ratio of 10.26, a P/E/G ratio of 1.48 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (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 return on equity of 29.87% and a net margin of 14.07%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. On average, analysts predict that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent analyst reports. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial decreased their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI cut their price target 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. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, 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 report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.73.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on 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 transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.02% of the stock is owned by insiders.

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.