HighTower Advisors LLC Has $5.83 Million Stock Holdings in PACCAR Inc. $PCAR

HighTower Advisors LLC trimmed its stake in shares of PACCAR Inc. (NASDAQ:PCARFree Report) by 13.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,534 shares of the company’s stock after selling 7,350 shares during the period. HighTower Advisors LLC’s holdings in PACCAR were worth $5,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Paladin Partners LLC acquired a new stake in PACCAR during the 2nd quarter worth about $27,000. MCF Advisors LLC lifted its stake in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares in the last quarter. Fiduciary Financial Advisors acquired a new position in shares of PACCAR in the second quarter worth about $28,000. Compass Financial Management LLC acquired a new position in shares of PACCAR in the second quarter worth about $28,000. Finally, Steph & Co. acquired a new position in shares of PACCAR in the first quarter worth about $29,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PCAR shares. Truist Financial boosted their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Royal Bank Of Canada raised shares of PACCAR from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $130.00 to $150.00 in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Finally, Wells Fargo & Company boosted their target price on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $133.91.

Read Our Latest Stock Report on PCAR

PACCAR Stock Performance

PCAR stock opened at $122.57 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The stock has a market cap of $64.52 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.40 and a beta of 0.96. The firm has a 50 day simple moving average of $128.00 and a 200 day simple moving average of $121.67. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings data 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 analyst estimates of $7.05 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc. will post 5.91 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

Insider Transactions at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction dated 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 in the company, valued at $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was 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. Insiders have sold a total of 56,842 shares of company stock valued at $7,565,677 in the last three months. 1.99% of the stock is currently owned by insiders.

About PACCAR

(Free Report)

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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