Waverly Advisors LLC increased its position in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) by 36.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 73,901 shares of the company’s stock after buying an additional 19,552 shares during the period. Waverly Advisors LLC’s holdings in PACCAR were worth $8,877,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of PCAR. Deseret Mutual Benefit Administrators grew its holdings in PACCAR by 9.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after acquiring an additional 80 shares during the period. Gulf International Bank UK Ltd lifted its stake in shares of PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC boosted its position in shares of PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after purchasing an additional 87 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of PACCAR by 3.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after purchasing an additional 87 shares in the last quarter. Finally, 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 purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.
PACCAR Price Performance
Shares of NASDAQ:PCAR opened at $121.88 on Thursday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The stock’s 50 day moving average is $127.94 and its 200-day moving average is $121.71. 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 firm has a market capitalization of $64.15 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.40 and a beta of 0.96.
PACCAR Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were paid 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 of this dividend was Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is 29.41%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on PCAR. Weiss Ratings reiterated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. JPMorgan Chase & Co. raised 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. Morgan Stanley set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research note on Friday, September 4th. 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 report on Thursday, July 30th. Finally, 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. Two research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $132.30.
Check Out Our Latest Stock Report on PCAR
Insider Buying and Selling at PACCAR
In other news, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at $184,307.50. This trade represents a 58.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,842 shares of company stock valued at $7,565,677 over the last three months. 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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