Foster & Motley Inc. Purchases Shares of 52,978 PACCAR Inc. $PCAR

Foster & Motley Inc. purchased a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 52,978 shares of the company's stock, valued at approximately $6,364,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators grew its position in shares of PACCAR by 9.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company's stock valued at $97,000 after purchasing an additional 80 shares in the last quarter. Gulf International Bank UK Ltd lifted its position 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 worth $2,869,000 after buying an additional 81 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in shares of PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company's stock worth $163,000 after buying an additional 87 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in PACCAR by 3.1% during the fourth 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 during the last quarter. Finally, MCF Advisors LLC boosted its stake in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock valued at $28,000 after buying an additional 92 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 50,975 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the transaction, the chief executive officer owned 268,625 shares in the company, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The SEC filing for this sale provides additional information. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 over the last quarter. 1.99% of the stock is owned by corporate insiders.

PACCAR Trading Down 2.2%

PCAR stock opened at $128.02 on Wednesday. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The firm's 50-day moving average is $125.73 and its 200 day moving average is $121.76. The company has a market capitalization of $67.38 billion, a PE ratio of 26.90, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.PACCAR's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 earnings per share. On average, research analysts anticipate that PACCAR Inc. will post 5.85 EPS for the current year.

PACCAR Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on PCAR shares. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Truist Financial increased their target price on PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research report on Thursday, July 2nd. Wells Fargo & Company raised 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. Morgan Stanley set a $119.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Citigroup increased their price objective on shares of PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $131.70.

PACCAR Company 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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