Avior Wealth Management LLC Trims Position in PACCAR Inc (NASDAQ:PCAR)

Avior Wealth Management LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 20.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 450 shares of the company’s stock after selling 116 shares during the period. Avior Wealth Management LLC’s holdings in PACCAR were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PCAR. Dimensional Fund Advisors LP increased its position in shares of PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after purchasing an additional 171,317 shares during the last quarter. Legal & General Group Plc increased its position in shares of PACCAR by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after purchasing an additional 242,435 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. National Pension Service increased its position in shares of PACCAR by 4.3% during the 3rd quarter. National Pension Service now owns 1,639,539 shares of the company’s stock worth $161,790,000 after purchasing an additional 68,064 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of PACCAR by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,555,625 shares of the company’s stock worth $153,509,000 after purchasing an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last three months. 2.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial boosted their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Citigroup increased their price target on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $117.64.

PACCAR Price Performance

PCAR stock opened at $114.75 on Monday. The company has a market capitalization of $60.16 billion, a P/E ratio of 12.82, a PEG ratio of 1.79 and a beta of 0.89. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The business has a 50 day simple moving average of $105.77 and a 200-day simple moving average of $102.99. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the company earned $2.34 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 13.41%.

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.