Mutual of America Capital Management LLC Sells 1,562 Shares of PACCAR Inc (NASDAQ:PCAR)

Mutual of America Capital Management LLC decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,564 shares of the company’s stock after selling 1,562 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PACCAR were worth $6,371,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its position in shares of PACCAR by 38.1% during the first quarter. Edgestream Partners L.P. now owns 7,520 shares of the company’s stock worth $932,000 after purchasing an additional 2,074 shares in the last quarter. Covestor Ltd grew its stake in PACCAR by 17.5% in the first quarter. Covestor Ltd now owns 844 shares of the company’s stock valued at $105,000 after acquiring an additional 126 shares during the period. Bessemer Group Inc. increased its holdings in shares of PACCAR by 61.0% in the first quarter. Bessemer Group Inc. now owns 35,868 shares of the company’s stock worth $4,444,000 after acquiring an additional 13,593 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of PACCAR by 26.6% during the first quarter. Lake Street Advisors Group LLC now owns 4,727 shares of the company’s stock worth $586,000 after purchasing an additional 994 shares during the period. Finally, Shell Asset Management Co. bought a new position in shares of PACCAR during the 1st quarter valued at about $414,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the sale, the senior vice president now owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last 90 days. 2.02% of the stock is currently owned by insiders.

PACCAR Trading Down 1.3 %

Shares of PACCAR stock opened at $110.38 on Wednesday. The stock has a market cap of $57.87 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.76 and a beta of 0.89. 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 12-month low of $90.04 and a 12-month high of $125.50. The business’s 50 day moving average is $104.69 and its 200-day moving average is $102.85.

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, 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 firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, Citigroup boosted their price target on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $116.55.

PACCAR Company Profile

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.