4,228 Shares in PACCAR Inc. $PCAR Acquired by Balefire LLC

Key Points

• Balefire LLC has acquired 4,228 shares of PACCAR Inc., valued at approximately $402,000, marking a new position in the company.
• PACCAR recently announced a quarterly dividend of $0.33 per share, expected to be paid on December 3rd, with an annualized yield of 1.3%.
• Despite reporting a 15.7% decrease in revenue compared to the previous year, PACCAR's earnings per share exceeded analyst expectations, coming in at $1.37 for the last quarter.

Balefire LLC bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,228 shares of the company's stock, valued at approximately $402,000.

Several other large investors have also recently bought and sold shares of the business. Farmers & Merchants Investments Inc. boosted its holdings in shares of PACCAR by 33.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after acquiring an additional 116 shares in the last quarter. RMR Wealth Builders lifted its position in PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock valued at $848,000 after purchasing an additional 122 shares during the period. Applied Capital LLC FL lifted its stake in shares of PACCAR by 0.5% in the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock valued at $2,455,000 after purchasing an additional 124 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in PACCAR by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock valued at $4,390,000 after buying an additional 130 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its holdings in PACCAR by 5.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock worth $228,000 after purchasing an additional 130 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

NASDAQ:PCAR traded down $1.96 during mid-day trading on Friday, hitting $99.46. 7,590,824 shares of the stock traded hands, compared to its average volume of 2,387,527. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The business's 50-day moving average price is $98.81 and its 200 day moving average price is $95.98. 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 company has a market cap of $52.23 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 3.99 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. On average, analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's payout ratio is currently 22.60%.

Insider Buying and Selling

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

Analyst Ratings Changes

PCAR has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research note on Monday, July 28th. Evercore ISI set a $114.00 target price on PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, Citigroup boosted their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and an average price target of $107.68.

PACCAR Profile

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.