Guggenheim Capital LLC Sells 23,246 Shares of PACCAR Inc. $PCAR

Guggenheim Capital LLC lessened its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 17.7% in the first quarter, Holdings Channel reports. The institutional investor owned 107,837 shares of the company’s stock after selling 23,246 shares during the period. Guggenheim Capital LLC’s holdings in PACCAR were worth $10,500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after buying an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP boosted its stake in PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock valued at $1,144,578,000 after purchasing an additional 987,805 shares during the last quarter. Northern Trust Corp boosted its stake in PACCAR by 0.5% during the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock valued at $704,956,000 after purchasing an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after purchasing an additional 97,197 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $100.68 on Friday. The company has a market cap of $52.87 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 4.07 and a beta of 0.91. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The stock’s fifty day moving average price is $97.62 and its 200-day moving average price is $96.66.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same period last year, the firm earned $2.13 EPS. PACCAR’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is currently 22.60%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Truist Financial cut their target price on PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a research note on Wednesday, July 23rd. Vertical Research upgraded PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, July 28th. Finally, UBS Group upgraded PACCAR from a “sell” rating to a “neutral” rating and raised their price target for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.68.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

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.