Rehmann Capital Advisory Group Cuts Position in PACCAR Inc (NASDAQ:PCAR)

Rehmann Capital Advisory Group reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 5.9% in the third quarter, HoldingsChannel reports. The firm owned 2,279 shares of the company’s stock after selling 144 shares during the period. Rehmann Capital Advisory Group’s holdings in PACCAR were worth $225,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in PACCAR in the second quarter worth about $26,000. Meeder Asset Management Inc. grew its position in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR during the 2nd quarter worth approximately $36,000. ORG Partners LLC lifted its position in PACCAR by 7,560.0% during the second quarter. ORG Partners LLC now owns 383 shares of the company’s stock valued at $39,000 after acquiring an additional 378 shares during the last quarter. Finally, Grove Bank & Trust boosted its stake in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $113.01 on Friday. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market cap of $59.25 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The company’s 50 day moving average is $110.95 and its 200 day moving average is $103.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. On average, sell-side analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now owns 3,061 shares of the company’s stock, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent analyst reports. Truist Financial upped their price target on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Citigroup increased their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $118.25.

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.