OneDigital Investment Advisors LLC Trims Stake in PACCAR Inc (NASDAQ:PCAR)

OneDigital Investment Advisors LLC decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,111 shares of the company’s stock after selling 2,992 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in PACCAR were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC lifted its holdings in PACCAR by 13.0% during the first quarter. Kingsview Wealth Management LLC now owns 3,641 shares of the company’s stock worth $451,000 after buying an additional 418 shares during the period. TIAA Trust National Association purchased a new stake in shares of PACCAR during the first quarter valued at about $312,000. Edgestream Partners L.P. boosted its holdings in shares of PACCAR by 38.1% in the 1st quarter. Edgestream Partners L.P. now owns 7,520 shares of the company’s stock valued at $932,000 after buying an additional 2,074 shares in the last quarter. Covestor Ltd grew its position in shares of PACCAR by 17.5% in the 1st quarter. Covestor Ltd now owns 844 shares of the company’s stock worth $105,000 after buying an additional 126 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of PACCAR by 2.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 59,590 shares of the company’s stock worth $7,383,000 after acquiring an additional 1,568 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $112.26 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $104.03 and its 200-day simple moving average is $102.78. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market capitalization of $58.86 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.76 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the company earned $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.07%. PACCAR’s dividend payout ratio is currently 13.41%.

Analyst Ratings Changes

Several analysts have recently commented on PCAR shares. Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Truist Financial lifted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Citigroup increased their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $116.55.

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.