Ancora Advisors LLC acquired a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 135,584 shares of the company's stock, valued at approximately $16,286,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators grew its holdings in shares of PACCAR by 9.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company's stock worth $97,000 after purchasing an additional 80 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of PACCAR by 0.3% in the fourth 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 raised its stake 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 worth $163,000 after buying an additional 87 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in PACCAR by 3.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company's stock valued at $317,000 after buying an additional 87 shares in the last quarter. Finally, MCF Advisors LLC lifted its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company's stock valued at $28,000 after purchasing an additional 92 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at PACCAR
In related 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 value of $133,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 1,970 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares of the company's stock, valued at approximately $184,307.50. This represents a 58.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company's stock.
Wall Street Analysts Forecast Growth
PCAR has been the subject of a number of recent analyst reports. 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 report on Thursday, July 30th. Sanford C. Bernstein restated an "outperform" rating and issued a $148.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Truist Financial lifted their target price on PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Citigroup boosted their target price on shares of PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Finally, Evercore set a $139.00 target price on shares of PACCAR in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $131.70.
Read Our Latest Research Report on PCAR
PACCAR Stock Performance
Shares of PACCAR stock opened at $129.22 on Wednesday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The business has a fifty day simple moving average of $126.83 and a 200-day simple moving average of $121.90. The stock has a market cap of $68.02 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. The firm's revenue was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current fiscal year.
PACCAR Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR's payout ratio is presently 29.41%.
About PACCAR
(
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.
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