SPC Financial Inc. Sells 118 Shares of PACCAR Inc (NASDAQ:PCAR)

SPC Financial Inc. lessened its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,933 shares of the company’s stock after selling 118 shares during the period. SPC Financial Inc.’s holdings in PACCAR were worth $1,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP bought a new stake in shares of PACCAR in the second quarter worth $26,000. YHB Investment Advisors Inc. acquired a new position in shares of PACCAR during the 1st quarter worth about $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co acquired a new stake in shares of PACCAR in the first quarter valued at about $29,000. Finally, Meeder Asset Management Inc. raised its holdings in 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 in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value 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 $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

NASDAQ:PCAR opened at $98.68 on Tuesday. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The firm’s 50-day simple moving average is $95.78 and its 200 day simple moving average is $105.39. The firm has a market cap of $51.72 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 1.53 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. As a group, sell-side analysts predict that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 12.45%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCAR. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup lowered their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Evercore ISI cut their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. dropped their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.