Navellier & Associates Inc. Lowers Position in PACCAR Inc (NASDAQ:PCAR)

Navellier & Associates Inc. trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 95.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,032 shares of the company’s stock after selling 84,017 shares during the period. Navellier & Associates Inc.’s holdings in PACCAR were worth $398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of PACCAR during the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. bought a new stake in PACCAR in the first quarter worth $27,000. Meeder Asset Management Inc. increased its position in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR during the second quarter valued at $36,000. Finally, Fortitude Family Office LLC lifted its position in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 0.6 %

NASDAQ:PCAR opened at $114.75 on Friday. The company has a market cap of $60.16 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $105.77 and a 200-day simple moving average of $103.05.

PACCAR (NASDAQ:PCAR) last announced 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. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. Analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. PACCAR’s payout ratio is 13.41%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PCAR shares. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley lowered their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Truist Financial boosted their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $117.64.

Insider Buying and Selling

In other PACCAR 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 transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $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 the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the business’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 owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is 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.