Solstein Capital LLC Purchases 136 Shares of PACCAR Inc. $PCAR

Solstein Capital LLC grew its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,193 shares of the company’s stock after acquiring an additional 136 shares during the quarter. Solstein Capital LLC’s holdings in PACCAR were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Wealthfront Advisers LLC raised its holdings in PACCAR by 29.1% in the 2nd quarter. Wealthfront Advisers LLC now owns 93,430 shares of the company’s stock worth $8,881,000 after purchasing an additional 21,046 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in PACCAR by 67.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 147,522 shares of the company’s stock worth $14,023,000 after purchasing an additional 59,436 shares during the period. QV Investors Inc. raised its holdings in PACCAR by 0.7% in the 2nd quarter. QV Investors Inc. now owns 49,020 shares of the company’s stock worth $4,660,000 after purchasing an additional 330 shares during the period. Interchange Capital Partners LLC raised its holdings in PACCAR by 20.6% in the 2nd quarter. Interchange Capital Partners LLC now owns 2,314 shares of the company’s stock worth $220,000 after purchasing an additional 396 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its holdings in PACCAR by 52.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 11,209 shares of the company’s stock worth $1,066,000 after purchasing an additional 3,865 shares during the period. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PCAR. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday. Vertical Research upgraded PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, UBS Group set a $103.00 price target on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.59.

PACCAR Trading Up 0.8%

Shares of PCAR stock opened at $100.13 on Monday. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. The firm has a market capitalization of $52.58 billion, a PE ratio of 19.59, a PEG ratio of 4.18 and a beta of 0.94. The stock has a fifty day simple moving average of $98.52 and a two-hundred day simple moving average of $95.79.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. On average, 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 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Insider Buying and Selling at PACCAR

In other 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 completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by insiders.

PACCAR 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.