Beverly Hills Private Wealth LLC Raises Holdings in PACCAR Inc. $PCAR

Beverly Hills Private Wealth LLC grew its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,593 shares of the company’s stock after buying an additional 2,092 shares during the period. Beverly Hills Private Wealth LLC’s holdings in PACCAR were worth $1,863,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after buying an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after buying an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock valued at $1,144,578,000 after buying an additional 987,805 shares during the last quarter. Northern Trust Corp lifted its holdings in PACCAR by 0.5% during the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after purchasing an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after purchasing an additional 97,197 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent research reports. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Evercore ISI set a $114.00 price objective on PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Argus raised 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. Finally, Vertical Research raised PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and an average target price of $108.14.

PACCAR Stock Performance

NASDAQ:PCAR opened at $94.69 on Monday. The business’s 50-day moving average price is $98.48 and its two-hundred day moving average price is $95.43. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The stock has a market cap of $49.72 billion, a P/E ratio of 16.21, a PEG ratio of 3.87 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter last year, the firm posted $2.13 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

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

Insider Transactions at PACCAR

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

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.