PACCAR Inc (NASDAQ:PCAR) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,895 shares of the company’s stock after selling 775 shares during the period. Lazard Asset Management LLC’s holdings in PACCAR were worth $7,915,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PCAR. PSI Advisors LLC acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $25,000. AdvisorNet Financial Inc grew its stake in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of PACCAR during the first quarter valued at $27,000. Riverview Trust Co bought a new stake in shares of PACCAR during the first quarter valued at about $29,000. Finally, Rise Advisors LLC bought a new stake in shares of PACCAR during the first quarter valued at about $31,000. 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 on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a filing 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 sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Down 0.8 %

NASDAQ:PCAR opened at $98.47 on Monday. The stock has a market cap of $51.61 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.81 and a quick ratio of 1.43. The stock’s 50-day moving average is $105.33 and its two-hundred day moving average is $108.71.

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 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 company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc will post 8.11 earnings per share for the current fiscal 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 1.22%. PACCAR’s dividend payout ratio is currently 12.45%.

Wall Street Analyst Weigh In

Several research firms have commented on PCAR. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Truist Financial decreased their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $114.27.

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.