Ameritas Investment Partners Inc. Cuts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Ameritas Investment Partners Inc. trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,829 shares of the company’s stock after selling 155 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in PACCAR were worth $2,581,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its stake in PACCAR by 4.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after acquiring an additional 27,963 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of PACCAR by 18.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after purchasing an additional 16,360 shares during the last quarter. abrdn plc boosted its position in shares of PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock worth $25,853,000 after purchasing an additional 89,359 shares in the last quarter. Pacer Advisors Inc. grew its stake in PACCAR by 29.6% during the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after buying an additional 16,390 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in PACCAR by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after buying an additional 9,978 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PCAR. StockNews.com downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Citigroup started coverage on shares of PACCAR in a research note on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price objective for the company. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Truist Financial lowered their price target on PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $114.67.

PACCAR Stock Performance

PACCAR stock traded down $11.96 during mid-day trading on Tuesday, hitting $97.10. The company had a trading volume of 7,669,001 shares, compared to its average volume of 2,577,710. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $50.89 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 1.29 and a beta of 0.92. The company’s fifty day moving average is $106.03 and its 200-day moving average is $108.61. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. Equities research analysts predict that PACCAR Inc will post 8.35 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

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.