Easterly Investment Partners LLC Trims Stake in PACCAR Inc (NASDAQ:PCAR)

Easterly Investment Partners LLC reduced its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 64.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,275 shares of the company's stock after selling 13,113 shares during the period. Easterly Investment Partners LLC's holdings in PACCAR were worth $901,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company's stock valued at $10,450,000 after acquiring an additional 16,360 shares in the last quarter. abrdn plc lifted its position in shares of PACCAR by 50.9% in the fourth quarter. abrdn plc now owns 264,756 shares of the company's stock valued at $25,853,000 after acquiring an additional 89,359 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company's stock valued at $7,004,000 after acquiring an additional 16,390 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of PACCAR by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company's stock valued at $80,430,000 after acquiring an additional 9,978 shares in the last quarter. Finally, Nilsine Partners LLC purchased a new position in shares of PACCAR in the fourth quarter valued at approximately $1,337,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on PACCAR from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 1st. Citigroup began coverage on PACCAR in a research report on Wednesday, June 26th. They set a "neutral" rating and a $115.00 price objective on the stock. Raymond James began coverage on PACCAR in a research report on Friday, June 28th. They set a "market perform" rating on the stock. Truist Financial reduced their price objective on PACCAR from $121.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, July 2nd. Finally, StockNews.com upgraded PACCAR from a "hold" rating to a "buy" rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $113.92.

PACCAR Trading Up 0.2 %

PCAR stock traded up $0.16 during midday trading on Wednesday, hitting $101.50. 1,865,182 shares of the company's stock were exchanged, compared to its average volume of 2,522,526. The business has a 50-day simple moving average of $106.02 and a two-hundred day simple moving average of $107.96. 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 stock has a market capitalization of $53.20 billion, a PE ratio of 10.53, a P/E/G ratio of 1.21 and a beta of 0.92. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $8.25 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The company's revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that PACCAR Inc will post 8.37 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. 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 1.18%. PACCAR's payout ratio is presently 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.