Northwestern Mutual Wealth Management Co. acquired a new stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 45,322 shares of the company’s stock, valued at approximately $5,444,000.
Several other hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC acquired a new position in PACCAR in the 4th quarter valued at about $27,000. Paladin Partners LLC purchased a new stake in PACCAR during the second quarter worth about $27,000. MCF Advisors LLC lifted its position in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. Steph & Co. acquired a new stake in shares of PACCAR during the first quarter worth about $29,000. Finally, Elyxium Wealth LLC purchased a new position in shares of PACCAR in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.90% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on PCAR. Morgan Stanley set a $119.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Evercore set a $139.00 target price on shares of PACCAR in a report on Monday, May 11th. Truist Financial raised their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price objective on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company increased their price objective on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $131.70.
Insider Activity
In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president owned 3,831 shares of the company’s stock, valued at $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is currently owned by company insiders.
PACCAR Stock Performance
Shares of PACCAR stock opened at $131.03 on Monday. The business has a 50-day simple moving average of $126.48 and a 200-day simple moving average of $121.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24. The company has a market cap of $68.97 billion, a PE ratio of 27.53, a P/E/G ratio of 1.03 and a beta of 0.97.
PACCAR (NASDAQ:PCAR – Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the company earned $1.37 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that PACCAR Inc. will post 5.89 EPS for the current fiscal year.
PACCAR Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.
About PACCAR
PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.
In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.
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