Sippican Capital Advisors Sells 275 Shares of PACCAR Inc (PCAR)

Sippican Capital Advisors lowered its position in PACCAR Inc (NASDAQ:PCAR) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,401 shares of the company’s stock after selling 275 shares during the quarter. Sippican Capital Advisors’ holdings in PACCAR were worth $504,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Nwam LLC increased its stake in shares of PACCAR by 2.0% in the 1st quarter. Nwam LLC now owns 31,383 shares of the company’s stock valued at $2,138,000 after buying an additional 617 shares during the period. American Research & Management Co. bought a new position in shares of PACCAR in the 1st quarter worth $68,000. Salem Capital Management Inc. boosted its position in shares of PACCAR by 63.8% in the 1st quarter. Salem Capital Management Inc. now owns 19,000 shares of the company’s stock worth $1,295,000 after purchasing an additional 7,400 shares during the last quarter. Sciencast Management LP bought a new position in shares of PACCAR in the 1st quarter worth $2,414,000. Finally, Kiley Juergens Wealth Management LLC boosted its position in shares of PACCAR by 1.8% in the 1st quarter. Kiley Juergens Wealth Management LLC now owns 19,022 shares of the company’s stock worth $1,296,000 after purchasing an additional 329 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

Shares of PCAR traded up $0.17 during midday trading on Thursday, hitting $69.01. The stock had a trading volume of 1,570,074 shares, compared to its average volume of 2,032,934. PACCAR Inc has a twelve month low of $53.43 and a twelve month high of $73.00. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.27 and a beta of 1.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.32.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter last year, the business posted $1.45 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Sell-side analysts anticipate that PACCAR Inc will post 6.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, May 13th. PACCAR’s dividend payout ratio is 20.51%.

Several research firms have weighed in on PCAR. Zacks Investment Research lowered PACCAR from a “buy” rating to a “hold” rating in a report on Wednesday. Longbow Research lowered PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 target price on the stock. in a report on Monday. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $63.00 target price on shares of PACCAR in a report on Tuesday, January 22nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. PACCAR presently has an average rating of “Hold” and an average price target of $67.08.

In related news, SVP Darrin C. Siver sold 8,088 shares of PACCAR stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $68.81, for a total value of $556,535.28. Following the sale, the senior vice president now owns 24,335 shares of the company’s stock, valued at $1,674,491.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 418 shares of PACCAR stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $68.50, for a total value of $28,633.00. Following the completion of the sale, the vice president now directly owns 4,586 shares in the company, valued at approximately $314,141. The disclosure for this sale can be found here. Insiders sold a total of 46,651 shares of company stock worth $3,172,333 in the last three months. Company insiders own 2.32% of the company’s stock.

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About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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