PACCAR Inc (NASDAQ:PCAR) Stock Holdings Lowered by SteelPeak Wealth LLC

SteelPeak Wealth LLC lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 13.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,775 shares of the company’s stock after selling 2,602 shares during the period. SteelPeak Wealth LLC’s holdings in PACCAR were worth $2,078,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its position in PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after buying an additional 16,360 shares in the last quarter. abrdn plc grew its position in PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after buying an additional 89,359 shares in the last quarter. Pacer Advisors Inc. grew its position in PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 shares in the last quarter. California State Teachers Retirement System grew its position in PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after buying an additional 9,978 shares in the last quarter. Finally, Nilsine Partners LLC bought a new position in PACCAR in the 4th quarter valued at about $1,337,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

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

PACCAR Price Performance

NASDAQ PCAR opened at $102.94 on Monday. The company has a 50 day simple moving average of $107.60 and a 200-day simple moving average of $107.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The firm has a market capitalization of $53.96 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92. PACCAR Inc has a 52-week low of $80.64 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 earnings per share. Equities research analysts predict that PACCAR Inc will post 8.35 earnings per share for the current fiscal 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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio is 12.45%.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent analyst reports. Raymond James initiated coverage on shares of PACCAR in a research report on Friday. They issued a “market perform” rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. StockNews.com lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday. Truist Financial restated a “hold” rating and set a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average target price of $114.38.

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.