PACCAR Inc (NASDAQ:PCAR) Shares Sold by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 42.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 23,959 shares of the company’s stock after selling 17,316 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in PACCAR were worth $2,466,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PSI Advisors LLC purchased a new position in shares of PACCAR in the first quarter valued at approximately $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR during the first quarter worth $27,000. New Covenant Trust Company N.A. acquired a new position in PACCAR during the first quarter worth about $27,000. Riverview Trust Co purchased a new stake in PACCAR during the 1st quarter valued at about $29,000. Finally, Rise Advisors LLC acquired a new stake in PACCAR in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent analyst reports. Truist Financial decreased their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Evercore ISI dropped their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup dropped their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $112.73.

PACCAR Price Performance

Shares of PACCAR stock traded up $1.53 during trading on Friday, hitting $96.18. 2,352,432 shares of the company were exchanged, compared to its average volume of 2,518,820. The firm has a 50 day moving average price of $99.10 and a 200 day moving average price of $107.67. The stock has a market capitalization of $50.41 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 1.49 and a beta of 0.92. 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 Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is owned by company insiders.

About PACCAR

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.