Mutual of America Capital Management LLC Sells 1,562 Shares of PACCAR Inc (NASDAQ:PCAR)

Mutual of America Capital Management LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,564 shares of the company’s stock after selling 1,562 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PACCAR were worth $6,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PCAR. Quarry LP bought a new stake in PACCAR in the 2nd quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR in the first quarter valued at approximately $27,000. Meeder Asset Management Inc. boosted its stake 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 during the period. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR during the second quarter worth approximately $36,000. Finally, Fortitude Family Office LLC increased its stake in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average target price of $116.55.

PACCAR Stock Performance

Shares of PACCAR stock opened at $110.38 on Wednesday. The company’s 50 day moving average price is $104.69 and its two-hundred day moving average price is $102.85. The firm has a market capitalization of $57.87 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.76 and a beta of 0.89. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. On average, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insider Activity

In related news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is owned by company insiders.

PACCAR 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.