PACCAR Inc. $PCAR Shares Sold by Caxton Associates LLP

Caxton Associates LLP cut its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 24.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,220 shares of the company’s stock after selling 8,410 shares during the quarter. Caxton Associates LLP’s holdings in PACCAR were worth $3,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $27,000. Steph & Co. purchased a new position in PACCAR during the first quarter worth about $29,000. MCF Advisors LLC raised its holdings in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in PACCAR in the fourth quarter valued at about $30,000. Finally, Camelot Portfolios LLC acquired a new stake in PACCAR in the fourth quarter valued at about $33,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Truist Financial increased their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $124.18.

PACCAR Price Performance

PCAR stock opened at $132.24 on Friday. The company has a market cap of $69.60 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.20 and a beta of 0.97. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $119.00 and a two-hundred day moving average price of $120.24. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $133.90.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc. will post 5.66 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is currently 29.79%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.