Atria Investments Inc Sells 8,103 Shares of PACCAR Inc (NASDAQ:PCAR)

Atria Investments Inc cut its stake in PACCAR Inc (NASDAQ:PCAR) by 44.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,112 shares of the company’s stock after selling 8,103 shares during the period. Atria Investments Inc’s holdings in PACCAR were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Security National Bank boosted its stake in shares of PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after purchasing an additional 93 shares during the last quarter. Brookstone Capital Management lifted its holdings in PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after buying an additional 94 shares during the period. CVA Family Office LLC boosted its stake in PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after acquiring an additional 97 shares during the last quarter. Grove Bank & Trust raised its position in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC raised its position in shares of PACCAR by 3.6% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 3,145 shares of the company’s stock valued at $324,000 after acquiring an additional 108 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PCAR. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley cut their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Finally, Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.55.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $112.26 on Monday. The company has a market capitalization of $58.86 billion, a PE ratio of 12.54, a P/E/G ratio of 1.76 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The firm has a fifty day simple moving average of $104.03 and a 200 day simple moving average of $102.78.

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

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.07%. PACCAR’s payout ratio is 13.41%.

Insider Buying and Selling at PACCAR

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

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.