Atomi Financial Group Inc. Has $410,000 Holdings in PACCAR Inc (NASDAQ:PCAR)

Atomi Financial Group Inc. cut its stake in PACCAR Inc (NASDAQ:PCAR) by 45.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,155 shares of the company’s stock after selling 3,521 shares during the period. Atomi Financial Group Inc.’s holdings in PACCAR were worth $410,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR in the 1st quarter worth approximately $27,000. Riverview Trust Co bought a new stake in PACCAR during the 1st quarter worth approximately $29,000. Rise Advisors LLC bought a new stake in PACCAR during the 1st quarter worth approximately $31,000. Quarry LP bought a new stake in PACCAR during the 2nd quarter worth approximately $26,000. Finally, Meeder Asset Management Inc. grew its position in PACCAR by 269.7% during the 2nd 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 last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Truist Financial decreased their price target on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup increased their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $114.00.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

PCAR stock opened at $106.80 on Friday. The business’s fifty day moving average is $96.39 and its 200-day moving average is $104.51. 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 company has a market cap of $55.99 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted 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 company 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 business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $2.33 EPS. Equities research analysts forecast that PACCAR Inc will post 8.08 EPS for the current 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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 12.71%.

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.