Profund Advisors LLC Decreases Stake in PACCAR Inc (NASDAQ:PCAR)

Profund Advisors LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,413 shares of the company’s stock after selling 601 shares during the period. Profund Advisors LLC’s holdings in PACCAR were worth $4,778,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares during the period. Fisher Asset Management LLC increased its stake in shares of PACCAR by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock valued at $479,466,000 after buying an additional 83,444 shares during the period. Capital International Investors increased its stake in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares during the period. Principal Financial Group Inc. increased its stake in shares of PACCAR by 1.5% during the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after buying an additional 48,784 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of PACCAR by 0.9% during the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after buying an additional 23,394 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

PACCAR Trading Down 0.6 %

Shares of NASDAQ:PCAR opened at $98.91 on Friday. The company has a market cap of $51.85 billion, a P/E ratio of 10.26, a PEG ratio of 1.48 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The stock’s fifty day moving average price is $96.95 and its 200-day moving average price is $106.15.

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

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 12.45%.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.