MCF Advisors LLC Sells 1,048 Shares of PACCAR Inc (NASDAQ:PCAR)

MCF Advisors LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 63.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 598 shares of the company’s stock after selling 1,048 shares during the quarter. MCF Advisors LLC’s holdings in PACCAR were worth $74,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Morningstar Investment Management LLC increased its stake in shares of PACCAR by 1.3% in the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after purchasing an additional 97 shares in the last quarter. Kingsview Wealth Management LLC increased its position in PACCAR by 3.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after buying an additional 100 shares in the last quarter. Evanson Asset Management LLC raised its stake in shares of PACCAR by 3.5% in the first quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock worth $400,000 after buying an additional 108 shares during the period. FORVIS Wealth Advisors LLC lifted its position in shares of PACCAR by 0.5% during the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock valued at $2,158,000 after buying an additional 109 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. grew its stake in shares of PACCAR by 3.2% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 4,025 shares of the company’s stock valued at $393,000 after acquiring an additional 125 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Down 1.0 %

Shares of NASDAQ PCAR opened at $102.94 on Friday. PACCAR Inc has a fifty-two week low of $80.64 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The company has a market cap of $53.96 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.57 and a beta of 0.94. The business’s 50 day moving average price is $107.60 and its 200-day moving average price is $107.70.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that PACCAR Inc will post 8.35 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 12.45%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada began coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, StockNews.com lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.38.

Insider Activity at PACCAR

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,040 shares of company stock worth $4,779,241. Company insiders own 2.02% of the company’s stock.

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.