Wealth Enhancement Advisory Services LLC Sells 4,936 Shares of PACCAR Inc (NASDAQ:PCAR)

Wealth Enhancement Advisory Services LLC cut its stake in PACCAR Inc (NASDAQ:PCAR) by 1.4% in the 2nd quarter, Holdings Channel reports. The firm owned 346,975 shares of the company’s stock after selling 4,936 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in PACCAR were worth $35,718,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PCAR. PSI Advisors LLC bought a new stake in PACCAR in the first quarter worth $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR during the 1st quarter valued at $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the first quarter worth $27,000. Riverview Trust Co acquired a new position in PACCAR in the 1st quarter worth approximately $29,000. Finally, Rise Advisors LLC purchased a new stake in shares of PACCAR in the first quarter worth about $31,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 1.7 %

Shares of PACCAR stock traded up $1.57 on Wednesday, hitting $94.25. 810,281 shares of the company’s stock traded hands, compared to its average volume of 2,652,608. The company has a fifty day moving average of $102.26 and a two-hundred day moving average of $108.48. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market capitalization of $49.40 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same period last year, the company posted $2.33 earnings per share. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts expect that PACCAR Inc will post 8.11 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.27%. PACCAR’s payout ratio is currently 12.45%.

Analysts Set New Price Targets

PCAR has been the subject of several research reports. Raymond James started coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $112.91.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by company insiders.

About PACCAR

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.