New England Research & Management Inc. Reduces Stock Position in PACCAR Inc (NASDAQ:PCAR)

New England Research & Management Inc. decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,371 shares of the company’s stock after selling 950 shares during the quarter. New England Research & Management Inc.’s holdings in PACCAR were worth $1,615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fulton Bank N.A. increased its holdings in shares of PACCAR by 8.1% during the 3rd quarter. Fulton Bank N.A. now owns 3,899 shares of the company’s stock worth $385,000 after buying an additional 292 shares during the last quarter. GAMMA Investing LLC grew its position in PACCAR by 32.8% in the third quarter. GAMMA Investing LLC now owns 7,069 shares of the company’s stock worth $698,000 after acquiring an additional 1,747 shares during the period. Canandaigua National Bank & Trust Co. raised its position in PACCAR by 49.2% in the third quarter. Canandaigua National Bank & Trust Co. now owns 12,327 shares of the company’s stock valued at $1,216,000 after purchasing an additional 4,065 shares during the period. Czech National Bank raised its position in PACCAR by 6.9% in the third quarter. Czech National Bank now owns 106,789 shares of the company’s stock valued at $10,538,000 after purchasing an additional 6,909 shares during the period. Finally, JLB & Associates Inc. lifted its stake in shares of PACCAR by 236.4% in the 3rd quarter. JLB & Associates Inc. now owns 34,875 shares of the company’s stock valued at $3,441,000 after purchasing an additional 24,507 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the firm’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 sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

PACCAR Stock Down 0.4 %

PCAR stock traded down $0.43 during mid-day trading on Monday, reaching $102.98. The company had a trading volume of 2,117,656 shares, compared to its average volume of 2,622,550. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a market capitalization of $53.98 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. 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 firm has a fifty day simple moving average of $95.93 and a 200 day simple moving average of $104.82.

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

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

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.