PACCAR Inc (NASDAQ:PCAR) Stake Decreased by Riverwater Partners LLC

Riverwater Partners LLC trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,658 shares of the company’s stock after selling 232 shares during the quarter. Riverwater Partners LLC’s holdings in PACCAR were worth $589,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PCAR. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new position in PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in PACCAR during the 4th quarter valued at about $37,000. OFI Invest Asset Management bought a new stake in shares of PACCAR during the 4th quarter worth about $43,000. Finally, Atala Financial Inc acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of a number of research analyst reports. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Evercore ISI dropped their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and decreased their target price for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Finally, Citigroup reduced their price objective on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $117.54.

PACCAR Trading Down 1.6 %

NASDAQ PCAR opened at $90.88 on Friday. The firm’s 50 day moving average price is $103.74 and its two-hundred day moving average price is $106.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a twelve month low of $89.67 and a twelve month high of $123.20. The stock has a market cap of $47.71 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

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.