PACCAR Inc (NASDAQ:PCAR) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,469 shares of the company’s stock after selling 342 shares during the period. Hexagon Capital Partners LLC’s holdings in PACCAR were worth $182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake 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 worth $10,450,000 after buying an additional 16,360 shares during the last quarter. abrdn plc boosted its position in shares of PACCAR by 50.9% in the fourth quarter. abrdn plc now owns 264,756 shares of the company’s stock worth $25,853,000 after acquiring an additional 89,359 shares during the last quarter. Pacer Advisors Inc. increased its position in PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after purchasing an additional 16,390 shares during the last quarter. California State Teachers Retirement System raised its stake in PACCAR by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after purchasing an additional 9,978 shares during the period. Finally, Nilsine Partners LLC purchased a new position in PACCAR during the fourth quarter worth approximately $1,337,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated 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 approximately $16,397,377.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,040 shares of company stock valued at $4,779,241. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, StockNews.com cut shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average target price of $114.38.

PACCAR Trading Down 1.1 %

PCAR opened at $101.84 on Tuesday. The stock has a market capitalization of $53.38 billion, a PE ratio of 10.56, a P/E/G ratio of 1.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a 12-month low of $80.91 and a 12-month high of $125.50. The firm’s fifty day moving average price is $107.60 and its 200 day moving average price is $107.77.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.25 earnings per share. As a group, research analysts expect that PACCAR Inc will post 8.35 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is currently 12.45%.

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.