Foster & Motley Inc. Acquires 2,744 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Foster & Motley Inc. increased its stake in PACCAR Inc. by 3.6%, owning a total of 79,918 shares worth approximately $7.78 million.
• PACCAR recently reported a quarterly earnings per share (EPS) of $1.37, exceeding the consensus estimate of $1.28, despite a 15.7% decline in revenue compared to the same quarter last year.
• The company announced a $0.33 quarterly dividend, reflecting an annualized dividend of $1.32 and a dividend yield of 1.33%.

Foster & Motley Inc. lifted its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,918 shares of the company's stock after acquiring an additional 2,744 shares during the period. Foster & Motley Inc.'s holdings in PACCAR were worth $7,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Natixis Advisors LLC increased its position in PACCAR by 4.3% in the 1st quarter. Natixis Advisors LLC now owns 1,087,860 shares of the company's stock worth $105,925,000 after buying an additional 45,099 shares during the period. Baader Bank Aktiengesellschaft bought a new position in PACCAR in the 1st quarter worth approximately $216,000. Bayforest Capital Ltd increased its position 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 buying an additional 274 shares during the period. XTX Topco Ltd bought a new position in PACCAR in the 1st quarter worth approximately $1,943,000. Finally, Harvest Fund Management Co. Ltd increased its position in PACCAR by 5.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 33,571 shares of the company's stock worth $3,269,000 after buying an additional 1,591 shares during the period. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on PCAR shares. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and boosted their price target for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Truist Financial decreased their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Vertical Research raised PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup boosted their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.77.

PACCAR Price Performance

PACCAR stock traded down $1.27 on Friday, reaching $97.49. The company's stock had a trading volume of 429,433 shares, compared to its average volume of 2,931,325. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.40 and a current ratio of 1.73. The company has a market cap of $51.18 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 3.95 and a beta of 0.94. The business's fifty day moving average price is $95.35 and its 200 day moving average price is $98.11. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR's payout ratio is presently 22.60%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the business'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 $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Company 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.