First Pacific Financial Buys New Holdings in PACCAR Inc. $PCAR

First Pacific Financial bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,032 shares of the company’s stock, valued at approximately $288,000.

Other hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after purchasing an additional 240 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in PACCAR during the first quarter worth approximately $29,000. Bayforest Capital Ltd raised its holdings in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares in the last quarter. Accent Capital Management LLC acquired a new stake in PACCAR during the first quarter worth approximately $40,000. Finally, JFS Wealth Advisors LLC raised its holdings in PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. Truist Financial cut their price objective on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, UBS Group upgraded shares of PACCAR from a “sell” rating to a “neutral” rating and raised their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.68.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $97.71 on Thursday. The firm’s fifty day moving average price is $99.15 and its 200 day moving average price is $95.68. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The firm has a market cap of $51.31 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 3.99 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the firm posted $2.13 EPS. PACCAR’s quarterly revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s payout ratio is presently 22.60%.

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.