Rehmann Capital Advisory Group Sells 144 Shares of PACCAR Inc (NASDAQ:PCAR)

Rehmann Capital Advisory Group reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,279 shares of the company’s stock after selling 144 shares during the period. Rehmann Capital Advisory Group’s holdings in PACCAR were worth $225,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in shares of PACCAR in the second quarter worth about $26,000. Meeder Asset Management Inc. grew its holdings in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR in the 2nd quarter worth approximately $36,000. ORG Partners LLC raised its holdings in shares of PACCAR by 7,560.0% during the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after acquiring an additional 378 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.2 %

Shares of NASDAQ PCAR opened at $113.01 on Friday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The company has a market cap of $59.25 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.82 and a beta of 0.91. The business’s 50 day moving average price is $110.95 and its 200-day moving average price is $103.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. On average, sell-side analysts expect that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 in the last three months. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Citigroup upped their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PACCAR presently has an average rating of “Hold” and an average price target of $118.25.

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.