Alpha DNA Investment Management LLC Sells 1,549 Shares of PACCAR Inc (NASDAQ:PCAR)

Alpha DNA Investment Management LLC cut its stake in PACCAR Inc (NASDAQ:PCAR) by 24.3% in the 2nd quarter, Holdings Channel reports. The firm owned 4,831 shares of the company’s stock after selling 1,549 shares during the period. Alpha DNA Investment Management LLC’s holdings in PACCAR were worth $497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. YHB Investment Advisors Inc. bought a new position in PACCAR in the first quarter worth about $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR in the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new position in shares of PACCAR in the 1st quarter valued at approximately $29,000. Meeder Asset Management Inc. boosted 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 valued at $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in PACCAR in the first quarter worth $31,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Evercore ISI lowered their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered 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. Deutsche Bank Aktiengesellschaft cut their price objective 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. Citigroup lowered their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $112.73.

PACCAR Stock Performance

PCAR stock opened at $99.17 on Wednesday. The stock’s 50 day simple moving average is $96.65 and its 200 day simple moving average is $105.86. 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 stock has a market capitalization of $51.99 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.53 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 analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the previous year, the company earned $2.33 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 dividend yield of 1.21%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is presently 12.45%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.02% of the company’s stock.

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.