Maloon Powers Pitre Higgins & Dennehy LLC purchased a new stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,721 shares of the company’s stock, valued at approximately $567,000.
Several other hedge funds have also bought and sold shares of PCAR. Brighton Jones LLC increased its holdings in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares during the period. Treasurer of the State of North Carolina boosted its holdings in PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares in the last quarter. Ieq Capital LLC boosted its holdings in PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in PACCAR during the second quarter valued at $81,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.
PACCAR Stock Performance
NASDAQ:PCAR opened at $124.70 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 company has a fifty day moving average of $127.78 and a two-hundred day moving average of $121.80. The stock has a market capitalization of $65.64 billion, a PE ratio of 26.20, a P/E/G ratio of 1.43 and a beta of 0.96. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24.
PACCAR Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.
Insider Activity at PACCAR
In other PACCAR news, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Feight sold 50,975 shares of the 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 transaction, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is owned by corporate insiders.
Analyst Ratings Changes
PCAR has been the subject of a number of recent analyst reports. 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 report on Wednesday, July 29th. Citigroup increased their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Morgan Stanley set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Friday. Sanford C. Bernstein restated an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $132.30.
Check Out Our Latest Analysis on PACCAR
PACCAR Company Profile
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.
Featured Articles
- Five stocks we like better than PACCAR
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
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.
