NewEdge Advisors LLC increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) by 176.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 17,008 shares of the company’s stock after buying an additional 10,858 shares during the quarter. NewEdge Advisors LLC’s holdings in PACCAR were worth $2,043,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators raised its holdings in PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after acquiring an additional 80 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in PACCAR by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC grew its stake in PACCAR by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after buying an additional 87 shares in the last quarter. MCF Advisors LLC grew its stake in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in PACCAR by 1.0% in the 1st quarter. Bleakley Financial Group LLC now owns 10,835 shares of the company’s stock valued at $1,252,000 after buying an additional 103 shares during the period. Institutional investors own 64.90% of the company’s stock.
PACCAR Stock Down 1.1%
Shares of NASDAQ PCAR opened at $116.06 on Friday. The company has a market cap of $61.09 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.34 and a beta of 0.96. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The stock has a 50-day moving average price of $127.59 and a two-hundred day moving average price of $121.47.
PACCAR Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be given a $0.35 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.
Analyst Ratings Changes
Several equities analysts have recently commented on PCAR shares. Royal Bank Of Canada upgraded shares of PACCAR from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $130.00 to $150.00 in a research report on Thursday, September 10th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, September 4th. Wells Fargo & Company upped their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Truist Financial raised their target price on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $133.91.
Get Our Latest Stock Report on PACCAR
Insider Activity at PACCAR
In other news, VP William Lance Walters sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Feight sold 50,975 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares of the company’s stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. Corporate insiders own 1.99% of the company’s stock.
PACCAR Profile
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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