Mutual of America Capital Management LLC Sells 2,477 Shares of PACCAR Inc (NASDAQ:PCAR)

Mutual of America Capital Management LLC decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,126 shares of the company’s stock after selling 2,477 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PACCAR were worth $6,807,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PCAR. YHB Investment Advisors Inc. purchased a new stake in PACCAR in the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR in the first quarter worth $27,000. Riverview Trust Co bought a new stake in shares of PACCAR during the 1st quarter valued at $29,000. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in shares of PACCAR during the 1st quarter valued at $31,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $99.52 on Friday. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a market cap of $52.17 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.47 and a beta of 0.91. The firm’s fifty day moving average is $97.04 and its 200 day moving average is $106.30. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS 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 business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the previous year, the business posted $2.33 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Analyst Ratings Changes

A number of research firms have commented on PCAR. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Citigroup decreased their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Truist Financial dropped their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Hold” and an average target price of $112.73.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.02% of the company’s stock.

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.