PACCAR Inc (NASDAQ:PCAR) Shares Sold by Delta Capital Management LLC

Delta Capital Management LLC decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,120 shares of the company’s stock after selling 450 shares during the quarter. PACCAR makes up 1.4% of Delta Capital Management LLC’s holdings, making the stock its 14th biggest position. Delta Capital Management LLC’s holdings in PACCAR were worth $3,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. RMR Wealth Builders increased its position in shares of PACCAR by 1.4% during the first quarter. RMR Wealth Builders now owns 8,713 shares of the company’s stock valued at $848,000 after acquiring an additional 122 shares during the last quarter. Net Worth Advisory Group grew its holdings in PACCAR by 1.5% during the 1st quarter. Net Worth Advisory Group now owns 16,150 shares of the company’s stock worth $1,573,000 after acquiring an additional 246 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in PACCAR by 24.9% during the 1st quarter. Simon Quick Advisors LLC now owns 4,677 shares of the company’s stock worth $455,000 after acquiring an additional 932 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of PACCAR by 208.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 192,344 shares of the company’s stock valued at $18,729,000 after buying an additional 130,068 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of PACCAR in the 1st quarter valued at $1,469,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $93.64 on Friday. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $49.16 billion, a P/E ratio of 11.84, a PEG ratio of 2.77 and a beta of 0.95. The business has a 50-day moving average of $91.97 and a 200-day moving average of $101.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.27 EPS. On average, equities analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s dividend payout ratio is 20.00%.

Insider Activity

In other news, Director Pierre R. Breber bought 5,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank of Canada cut their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Citigroup decreased their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Finally, Truist Financial dropped their price objective on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $104.14.

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.