PACCAR Inc (NASDAQ:PCAR) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,689 shares of the company’s stock after selling 486 shares during the quarter. Ritholtz Wealth Management’s holdings in PACCAR were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of PACCAR in the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the first quarter valued at $27,000. Riverview Trust Co purchased a new position in shares of PACCAR in the first quarter valued at $29,000. Meeder Asset Management Inc. increased its position in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of PACCAR during the 1st quarter worth $31,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $108.22 on Tuesday. PACCAR Inc has a 1 year low of $80.94 and a 1 year 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 has a 50 day moving average price of $96.97 and a 200 day moving average price of $104.02. The company has a market cap of $56.72 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $2.33 earnings per share. Sell-side analysts predict that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The company 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Friday. Raymond James began coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Citigroup boosted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Evercore ISI decreased their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $114.00.

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.