PACCAR Inc (NASDAQ:PCAR) Shares Sold by Heritage Investors Management Corp

05 Nov 2024, 15:40 by Michael Walen · The Markets Daily

Heritage Investors Management Corp lowered its holdings in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,589 shares of the company’s stock after selling 437 shares during the period. Heritage Investors Management Corp’s holdings in PACCAR were worth $16,932,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PCAR. Quarry LP purchased a new position in PACCAR during the 2nd quarter worth $26,000. New Covenant Trust Company N.A. purchased a new position in PACCAR during the 1st quarter worth $27,000. Meeder Asset Management Inc. raised its position in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in PACCAR during the 2nd quarter worth $36,000. Finally, Fortitude Family Office LLC increased its holdings in shares of PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI lowered their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Citigroup increased their price objective on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average target price of $113.82.

View Our Latest Stock Analysis on PCAR

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 1.2 %

Shares of PCAR traded up $1.24 during mid-day trading on Tuesday, hitting $106.06. The company had a trading volume of 475,535 shares, compared to its average volume of 2,620,137. The business’s 50-day simple moving average is $100.51 and its 200-day simple moving average is $102.58. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $85.14 and a 1-year high of $125.50. The stock has a market cap of $55.61 billion, a PE ratio of 11.78, a P/E/G ratio of 1.61 and a beta of 0.89.

PACCAR (NASDAQ:PCAR – Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the company earned $2.34 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc will post 8 earnings per share for the current year.

PACCAR Announces Dividend

The firm 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 annualized dividend and a yield of 1.13%. PACCAR’s payout ratio is 13.41%.

PACCAR Company Profile

(Free Report)