Wealthfront Advisers LLC Acquires Shares of 103,787 PACCAR Inc. $PCAR

Wealthfront Advisers LLC bought a new stake in shares of PACCAR Inc. (NASDAQ:PCARFree Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 103,787 shares of the company’s stock, valued at approximately $12,467,000.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of PACCAR in the 2nd quarter worth $4,927,720,000. Norges Bank bought a new stake in PACCAR in the fourth quarter valued at about $727,745,000. Bank of New York Mellon Corp bought a new stake in PACCAR in the second quarter valued at about $453,107,000. Wellington Management Group LLP lifted its stake in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the period. Finally, Deutsche Bank AG acquired a new position in PACCAR in the second quarter valued at about $239,460,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction that occurred 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 sale, the vice president owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 268,625 shares in the company, valued at $35,745,928.75. The trade was a 15.95% decrease in their position. 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 ninety days. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent analyst reports. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Truist Financial increased 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. Morgan Stanley set a $119.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $131.70.

Get Our Latest Report on PCAR

PACCAR Stock Down 2.2%

PACCAR stock opened at $128.02 on Wednesday. The stock has a market capitalization of $67.38 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $125.73 and a 200-day moving average of $121.76.

PACCAR (NASDAQ:PCARGet Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 earnings per share. On average, equities research analysts anticipate that PACCAR Inc. will post 5.85 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared 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 payout ratio is 29.41%.

PACCAR Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc. (NASDAQ:PCARFree Report).

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.