3,137 Shares in PACCAR Inc. $PCAR Purchased by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC purchased 3,137 shares of PACCAR Inc. during the 2nd quarter, valued at approximately $298,000, highlighting ongoing interest from institutional investors.
• Analysts have raised their price targets on PACCAR, with Evercore ISI setting a target price of $114.00 and Argus raising it to $121.00, indicating positive sentiment around the stock.
• PACCAR announced a quarterly dividend of $0.33 per share, with an annualized yield of 1.4%, emphasizing the company's commitment to returning value to its shareholders.

GC Wealth Management RIA LLC acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,137 shares of the company's stock, valued at approximately $298,000.

Other hedge funds have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR during the first quarter worth about $29,000. Bayforest Capital Ltd boosted its stake in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares in the last quarter. Accent Capital Management LLC bought a new stake in PACCAR during the first quarter worth about $40,000. Finally, JFS Wealth Advisors LLC boosted its stake in PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 174 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PCAR shares. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $107.68.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 0.6%

PCAR opened at $97.71 on Thursday. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average price of $99.15 and a 200-day moving average price of $95.68. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The stock has a market capitalization of $51.31 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 3.99 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the previous year, the company earned $2.13 earnings per share. The firm's quarterly revenue was down 15.7% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's dividend payout ratio is currently 22.60%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.

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