PACCAR Inc (NASDAQ:PCAR) Position Trimmed by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,644 shares of the company’s stock after selling 1,083 shares during the period. Oppenheimer & Co. Inc.’s holdings in PACCAR were worth $2,846,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System grew its position in shares of PACCAR by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after acquiring an additional 27,963 shares during the last quarter. BDF Gestion bought a new position in shares of PACCAR during the second quarter worth about $2,862,000. California State Teachers Retirement System grew its position in shares of 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 acquiring an additional 9,978 shares during the last quarter. Advisory Services Network LLC grew its position in shares of PACCAR by 15.9% during the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after acquiring an additional 105,109 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Raymond James assumed coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Evercore ISI reduced their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $112.73.

Insider Buying and Selling at PACCAR

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

PACCAR Price Performance

PCAR stock opened at $95.12 on Monday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The firm has a market capitalization of $49.86 billion, a PE ratio of 9.87, a P/E/G ratio of 1.46 and a beta of 0.91. The firm has a 50-day moving average of $97.40 and a two-hundred day moving average of $106.63.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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 firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the prior year, the company posted $2.33 earnings per share. PACCAR’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 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.