Sippican Capital Advisors decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 7.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 24,845 shares of the company’s stock after selling 1,907 shares during the period. PACCAR comprises about 1.8% of Sippican Capital Advisors’ investment portfolio, making the stock its 14th biggest holding. Sippican Capital Advisors’ holdings in PACCAR were worth $1,797,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after purchasing an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in shares of PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after purchasing an additional 500 shares in the last quarter. Perkins Coie Trust Co raised its holdings in shares of PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Sun Life Financial INC raised its holdings in shares of PACCAR by 19,884.6% during the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after purchasing an additional 2,585 shares in the last quarter. 62.38% of the stock is owned by hedge funds and other institutional investors.
PCAR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, September 5th. Buckingham Research initiated coverage on shares of PACCAR in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 target price on the stock. ValuEngine upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Royal Bank Of Canada reiterated a “buy” rating on shares of PACCAR in a research note on Friday, September 1st. Finally, Citigroup Inc. raised their target price on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. PACCAR currently has an average rating of “Hold” and a consensus price target of $75.95.
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In related news, VP Alma Lily Ley sold 4,024 shares of PACCAR stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the transaction, the vice president now directly owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of PACCAR stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the transaction, the insider now directly owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The disclosure for this sale can be found here. Company insiders own 2.64% of the company’s stock.
Shares of PACCAR Inc. (NASDAQ PCAR) traded down $0.01 during trading on Friday, hitting $69.41. 372,403 shares of the stock traded hands, compared to its average volume of 2,430,000. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.56. PACCAR Inc. has a 1-year low of $58.12 and a 1-year high of $75.68. The firm has a market cap of $24,420.00, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.69 and a beta of 1.24.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue was up 19.7% on a year-over-year basis. sell-side analysts predict that PACCAR Inc. will post 4.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio is currently 25.64%.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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