Intellectus Partners LLC Sells 316 Shares of PACCAR Inc (NASDAQ:PCAR)

Intellectus Partners LLC lowered its position in PACCAR Inc (NASDAQ:PCAR) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,564 shares of the company’s stock after selling 316 shares during the quarter. Intellectus Partners LLC’s holdings in PACCAR were worth $1,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. lifted its position in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after buying an additional 350 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at approximately $37,000. Finally, Atala Financial Inc bought a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PCAR. UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and dropped their price target for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Evercore ISI decreased their price objective on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Royal Bank of Canada cut their target price on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Morgan Stanley downgraded shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $104.14.

Insider Buying and Selling at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $92.43 on Friday. The firm’s 50 day simple moving average is $91.94 and its 200 day simple moving average is $102.20. The firm has a market capitalization of $48.52 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 2.77 and a beta of 0.95. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) 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.