HB Wealth Management LLC Reduces Position in PACCAR Inc. $PCAR

HB Wealth Management LLC decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 42,888 shares of the company’s stock after selling 6,210 shares during the period. HB Wealth Management LLC’s holdings in PACCAR were worth $5,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paladin Partners LLC purchased a new position in PACCAR during the 2nd quarter valued at $27,000. MCF Advisors LLC increased its stake in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares during the period. Fiduciary Financial Advisors bought a new stake in shares of PACCAR during the second quarter worth $28,000. Compass Financial Management LLC bought a new stake in shares of PACCAR during the second quarter worth $28,000. Finally, Steph & Co. purchased a new stake in shares of PACCAR during the first quarter valued at $29,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

NASDAQ PCAR opened at $124.70 on Tuesday. The company has a market cap of $65.64 billion, a PE ratio of 26.20, a P/E/G ratio of 1.43 and a beta of 0.96. The firm’s 50 day moving average price is $127.88 and its 200-day moving average price is $121.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. PACCAR’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Sell-side analysts forecast that PACCAR Inc. will post 5.91 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 12th. PACCAR’s payout ratio is presently 29.41%.

Insider Buying and Selling

In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO R Feight sold 50,975 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

PCAR has been the topic of a number of research analyst reports. Truist Financial upped their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Citigroup upped their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Morgan Stanley set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $132.30.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.