Beverly Hills Private Wealth LLC Invests $1.21 Million in PACCAR Inc. $PCAR

Key Points

• Beverly Hills Private Wealth LLC acquired 10,076 PACCAR shares worth approximately $1.21 million, while institutional investors collectively own 64.9% of the company.
• PACCAR reported quarterly earnings of $1.43 per share, surpassing estimates of $1.36, with revenue of $7.55 billion versus the $7.05 billion consensus forecast.
• Analysts maintain a consensus “Hold” rating with a $131.70 price target. PACCAR also declared a $0.35 quarterly dividend, equivalent to a 1.1% annual yield.

Beverly Hills Private Wealth LLC purchased a new stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,076 shares of the company's stock, valued at approximately $1,210,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company's stock valued at $6,951,172,000 after acquiring an additional 363,782 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company's stock valued at $2,516,272,000 after purchasing an additional 3,597,283 shares during the last quarter. State Street Corp lifted its position in PACCAR by 0.4% during the fourth quarter. State Street Corp now owns 22,497,197 shares of the company's stock valued at $2,494,269,000 after purchasing an additional 94,869 shares during the period. Geode Capital Management LLC lifted its position in PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company's stock valued at $1,350,867,000 after purchasing an additional 50,622 shares during the period. Finally, Norges Bank purchased a new stake in PACCAR in the fourth quarter worth approximately $727,745,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCAR has been the subject of a number of research analyst reports. Truist Financial lifted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their price target on PACCAR from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Sanford C. Bernstein reiterated an "outperform" rating and set a $148.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Citigroup increased their target price on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $131.70.

PACCAR Stock Performance

Shares of PCAR stock opened at $130.79 on Monday. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $139.24. The firm has a fifty day moving average price of $125.32 and a 200-day moving average price of $121.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm 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 business posted $1.37 EPS. PACCAR's revenue was up .5% on a year-over-year basis. As a group, equities analysts predict that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR's dividend payout ratio is presently 29.41%.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 1,970 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. The trade was a 58.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on 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. In the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. Corporate insiders own 1.99% of the company's stock.

PACCAR Profile

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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