Ellevest Inc. Invests $320,000 in PACCAR Inc. $PCAR

Ellevest Inc. bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,369 shares of the company’s stock, valued at approximately $320,000.

Other hedge funds have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its position in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Intellectus Partners LLC increased its position in shares of PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after acquiring an additional 109 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in PACCAR by 1.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after acquiring an additional 116 shares in the last quarter. Applied Capital LLC FL raised its holdings in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock worth $2,455,000 after acquiring an additional 124 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock valued at $228,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $106.59.

PACCAR Trading Down 2.4%

PCAR stock opened at $98.28 on Friday. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The company has a fifty day moving average price of $98.34 and a two-hundred day moving average price of $96.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51.

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 the consensus estimate of $1.14 by ($0.02). The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.85 earnings per share. Equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.02% of the stock is currently owned by corporate insiders.

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.