Net Worth Advisory Group Raises Stake in PACCAR Inc (NASDAQ:PCAR)

Net Worth Advisory Group increased its stake in PACCAR Inc (NASDAQ:PCAR) by 1.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 16,150 shares of the company’s stock after buying an additional 246 shares during the quarter. Net Worth Advisory Group’s holdings in PACCAR were worth $1,573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PDS Planning Inc raised its stake in PACCAR by 3.7% in the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after acquiring an additional 101 shares during the period. EverSource Wealth Advisors LLC raised its stake in PACCAR by 14.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock valued at $88,000 after acquiring an additional 107 shares during the period. Claris Advisors LLC MO raised its stake in PACCAR by 1.5% in the 4th quarter. Claris Advisors LLC MO now owns 7,209 shares of the company’s stock valued at $750,000 after acquiring an additional 108 shares during the period. Norden Group LLC raised its stake in PACCAR by 3.8% in the 4th quarter. Norden Group LLC now owns 3,251 shares of the company’s stock valued at $338,000 after acquiring an additional 118 shares during the period. Finally, Nicolet Advisory Services LLC raised its stake in PACCAR by 3.7% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company’s stock valued at $373,000 after acquiring an additional 125 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PCAR shares. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Morgan Stanley cut PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research report on Wednesday, April 16th. Truist Financial decreased their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut PACCAR from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $104.14.

Insiders Place Their Bets

In related news, Director Pierre R. Breber acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares in the company, valued at $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 at this hyperlink. 2.02% of the stock is owned by insiders.

PACCAR Stock Down 0.9%

PCAR stock opened at $93.88 on Thursday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $91.86 and its 200 day moving average is $101.70. The stock has a market cap of $49.28 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 EPS. Sell-side analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.41%. The ex-dividend date was Wednesday, May 14th. PACCAR’s dividend payout ratio is currently 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.