OneDigital Investment Advisors LLC Reduces Position in PACCAR Inc (NASDAQ:PCAR)

OneDigital Investment Advisors LLC reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 14.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,111 shares of the company’s stock after selling 2,992 shares during the period. OneDigital Investment Advisors LLC’s holdings in PACCAR were worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR in the 1st quarter worth $27,000. Quarry LP purchased a new stake in shares of PACCAR in the second quarter valued at about $26,000. Meeder Asset Management Inc. increased its position in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in PACCAR during the second quarter worth about $36,000. Finally, Fortitude Family Office LLC boosted its holdings in 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 during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Down 2.4 %

PACCAR stock opened at $112.26 on Monday. The firm has a market capitalization of $58.86 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.76 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The stock’s fifty day simple moving average is $104.03 and its 200-day simple moving average is $102.78.

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

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PCAR. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial raised their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $116.55.

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.