PACCAR Inc (NASDAQ:PCAR) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance cut its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 88.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,161 shares of the company's stock after selling 40,457 shares during the quarter. Independent Advisor Alliance's holdings in PACCAR were worth $509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Security National Bank lifted its holdings in PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company's stock worth $240,000 after buying an additional 93 shares during the last quarter. Brookstone Capital Management raised its position in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company's stock worth $258,000 after acquiring an additional 94 shares in the last quarter. CVA Family Office LLC lifted its stake in PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company's stock worth $82,000 after purchasing an additional 97 shares during the last quarter. Omnia Family Wealth LLC boosted its holdings in PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock valued at $394,000 after purchasing an additional 98 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after purchasing an additional 103 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded up $0.36 during midday trading on Thursday, hitting $116.18. The stock had a trading volume of 1,685,361 shares, compared to its average volume of 2,612,256. The company has a market capitalization of $60.91 billion, a PE ratio of 12.98, a P/E/G ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a 50 day moving average price of $106.94 and a two-hundred day moving average price of $103.19. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $7.66 billion. During the same quarter in the previous year, the firm posted $2.34 EPS. The firm's quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid 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 dividend yield of 1.03%. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

Analysts Set New Price Targets

A number of research firms have weighed in on PCAR. Citigroup raised their price objective on shares of PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, November 20th. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas upgraded shares of PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, Truist Financial boosted their target price on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $117.64.

Insider Activity

In related news, CEO R Preston Feight sold 27,191 shares of the 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 directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. 2.02% of the stock is currently owned by corporate 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.