Leuthold Group LLC Sells 391 Shares of PACCAR Inc (NASDAQ:PCAR)

Leuthold Group LLC cut its stake in PACCAR Inc (NASDAQ:PCAR) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,975 shares of the company’s stock after selling 391 shares during the quarter. Leuthold Group LLC’s holdings in PACCAR were worth $4,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new stake in PACCAR in the first quarter worth about $27,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR during the first quarter valued at approximately $27,000. Riverview Trust Co purchased a new stake in PACCAR in the first quarter worth $29,000. Meeder Asset Management Inc. raised its holdings in 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. Finally, Rise Advisors LLC bought a new stake in shares of PACCAR during the 1st quarter valued at $31,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $96.32 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The business has a 50-day simple moving average of $97.11 and a two-hundred day simple moving average of $106.34. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The firm has a market cap of $50.49 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.47 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the prior year, the company posted $2.33 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, analysts expect that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Analyst Ratings Changes

PCAR has been the subject of several research reports. Evercore ISI decreased their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup dropped their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Raymond James started coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Truist Financial reduced their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $112.73.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is currently 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.