Stevens Capital Management LP Decreases Position in PACCAR Inc (NASDAQ:PCAR)

Stevens Capital Management LP decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 55.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,446 shares of the company’s stock after selling 3,086 shares during the quarter. Stevens Capital Management LP’s holdings in PACCAR were worth $239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PCAR. DAVENPORT & Co LLC purchased a new stake in shares of PACCAR in the third quarter worth about $245,000. Meridian Wealth Management LLC raised its stake in PACCAR by 101.6% during the third quarter. Meridian Wealth Management LLC now owns 6,668 shares of the company’s stock valued at $567,000 after buying an additional 3,361 shares in the last quarter. Czech National Bank raised its position in shares of PACCAR by 47.7% during the 3rd quarter. Czech National Bank now owns 91,398 shares of the company’s stock worth $7,771,000 after purchasing an additional 29,536 shares during the period. Ballentine Partners LLC raised its position in shares of PACCAR by 15.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,940 shares of the company’s stock worth $420,000 after purchasing an additional 648 shares during the period. Finally, Uncommon Cents Investing LLC grew its holdings in PACCAR by 31.3% in the 3rd quarter. Uncommon Cents Investing LLC now owns 7,521 shares of the company’s stock worth $639,000 after buying an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insiders Place Their Bets

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders sold a total of 141,293 shares of company stock worth $14,581,337 over the last quarter. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR stock traded down $0.66 during trading on Friday, reaching $111.96. 2,802,497 shares of the stock were exchanged, compared to its average volume of 2,333,385. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50. The company has a market capitalization of $58.67 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92. The stock has a 50 day simple moving average of $116.49 and a 200-day simple moving average of $101.60. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the business earned $1.76 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is 12.31%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PCAR shares. Evercore ISI increased their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Truist Financial initiated coverage on PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price objective for the company. JPMorgan Chase & Co. increased their price target on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Morgan Stanley initiated coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price target for the company. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and increased their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.82.

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.