Berkeley Capital Partners LLC Buys Shares of 14,311 PACCAR Inc. $PCAR

Key Points

• Berkeley Capital Partners LLC acquired a new stake in PACCAR Inc. by purchasing 14,311 shares valued at approximately $1.36 million during the second quarter.
• PACCAR announced a quarterly dividend of $0.33 per share, with the ex-dividend date set for November 12th, which gives the stock an annualized yield of 1.4%.
• Recently, CFO Brice J. Poplawski and CEO R Preston Feight significantly reduced their positions by selling shares, with Poplawski's stake decreasing by 91.44% and Feight's by 15.19%.

Berkeley Capital Partners LLC bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 14,311 shares of the company's stock, valued at approximately $1,360,000.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. E Fund Management Hong Kong Co. Ltd. increased 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 valued at $27,000 after purchasing an additional 240 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR during the first quarter valued at $29,000. Bayforest Capital Ltd increased its stake in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after purchasing an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in PACCAR during the first quarter valued at $40,000. Institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Performance

Shares of PCAR opened at $97.48 on Tuesday. The firm has a 50-day moving average price of $98.48 and a 200 day moving average price of $95.48. The firm has a market capitalization of $51.19 billion, a PE ratio of 16.69, a P/E/G ratio of 3.87 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

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

PACCAR Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial set a $97.00 price target on shares of PACCAR and gave the stock a "hold" rating in a research report on Wednesday, October 8th. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Citigroup upped their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of PACCAR from $97.00 to $103.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $108.14.

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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