Monument Capital Management Cuts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Monument Capital Management trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,083 shares of the company’s stock after selling 2,008 shares during the period. PACCAR accounts for about 1.1% of Monument Capital Management’s holdings, making the stock its 19th biggest holding. Monument Capital Management’s holdings in PACCAR were worth $3,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc boosted its position in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. Riverview Trust Co acquired a new stake in PACCAR in the first quarter valued at approximately $29,000. Rise Advisors LLC purchased a new stake in shares of PACCAR during the first quarter valued at approximately $31,000. Bruce G. Allen Investments LLC acquired a new position in shares of PACCAR during the fourth quarter worth $37,000. Finally, ORG Partners LLC grew its holdings in PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after purchasing an additional 372 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock valued at $4,779,241 in the last ninety days. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock traded up $0.28 on Wednesday, reaching $101.19. 657,594 shares of the company were exchanged, compared to its average volume of 2,524,077. The firm has a market cap of $53.04 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.23 and a beta of 0.92. PACCAR Inc has a 1-year low of $80.91 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The company’s 50-day moving average is $107.14 and its two-hundred day moving average is $107.84.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the business posted $2.25 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc will post 8.34 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. PACCAR’s payout ratio is presently 12.45%.

Analysts Set New Price Targets

PCAR has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. Truist Financial dropped their price objective on PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday. Citigroup assumed coverage on PACCAR in a research note on Wednesday, June 26th. They set a “neutral” rating and a $115.00 target price for the company. Finally, StockNews.com lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.92.

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.