Pathstone Holdings LLC Sells 2,433 Shares of PACCAR Inc (NASDAQ:PCAR)

Pathstone Holdings LLC lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 77,868 shares of the company’s stock after selling 2,433 shares during the quarter. Pathstone Holdings LLC’s holdings in PACCAR were worth $7,684,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of PACCAR in the 2nd quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new stake in PACCAR in the first quarter worth about $27,000. Meeder Asset Management Inc. increased 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 worth $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR during the second quarter worth about $36,000. Finally, Fortitude Family Office LLC lifted its holdings in PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

PCAR opened at $114.08 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a market cap of $59.81 billion, a P/E ratio of 12.75, a PEG ratio of 1.73 and a beta of 0.89. The business has a fifty day moving average of $105.38 and a 200 day moving average of $102.98. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the prior year, the company earned $2.34 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. PACCAR’s payout ratio is 13.41%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 over the last three months. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCAR. Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup lifted their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.64.

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.