Stratos Wealth Partners LTD. Decreases Position in PACCAR Inc. (NASDAQ:PCAR)

Stratos Wealth Partners LTD. decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,966 shares of the company’s stock after selling 360 shares during the period. Stratos Wealth Partners LTD.’s holdings in PACCAR were worth $289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. grew its stake in PACCAR by 0.4% in the first quarter. Brown Advisory Inc. now owns 43,923 shares of the company’s stock worth $4,277,000 after purchasing an additional 179 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in PACCAR by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock valued at $1,262,000 after acquiring an additional 4,429 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its position in PACCAR by 7.2% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 17,501 shares of the company’s stock valued at $1,704,000 after acquiring an additional 1,168 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in PACCAR by 0.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 551,907 shares of the company’s stock valued at $53,739,000 after acquiring an additional 2,115 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in PACCAR by 32.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,084 shares of the company’s stock valued at $106,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were acquired 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 directly owned 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 filing with the SEC, which is available through this hyperlink. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada dropped their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. Evercore ISI decreased their price objective on PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered PACCAR from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Finally, Citigroup increased their price target on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.59.

PACCAR Stock Performance

NASDAQ:PCAR opened at $95.13 on Wednesday. The company has a market cap of $49.94 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 3.55 and a beta of 0.94. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $94.46 and a two-hundred day simple moving average of $98.74. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the prior year, the company earned $2.27 earnings per share. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.39%. PACCAR’s dividend payout ratio is presently 20.00%.

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.