Forum Financial Management LP Acquires 3,312 Shares of PACCAR Inc. $PCAR

Forum Financial Management LP boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 31.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,908 shares of the company's stock after acquiring an additional 3,312 shares during the quarter. Forum Financial Management LP's holdings in PACCAR were worth $1,322,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its stake in PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Alpine Bank Wealth Management bought a new position in PACCAR in the 1st quarter worth about $29,000. Bayforest Capital Ltd increased its stake in PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Accent Capital Management LLC bought a new position in PACCAR in the 1st quarter worth about $40,000. Finally, Marshall & Sullivan Inc. WA bought a new position in PACCAR in the 2nd quarter worth about $43,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

Shares of PACCAR stock opened at $99.38 on Friday. The company has a current ratio of 1.82, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $52.18 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 4.13 and a beta of 0.94. The business's 50-day moving average price is $98.48 and its 200-day moving average price is $95.61. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR's revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.85 earnings per share. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued 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 dividend payout ratio (DPR) is currently 25.83%.

Insider Activity at PACCAR

In related 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 value of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PCAR. Zacks Research lowered PACCAR from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Jefferies Financial Group restated a "hold" rating and issued a $90.00 target price on shares of PACCAR in a research note on Tuesday. Raymond James Financial reiterated a "market perform" rating on shares of PACCAR in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on PACCAR from $103.00 to $108.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of PACCAR in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $106.59.

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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