4,170 Shares in PACCAR Inc. (NASDAQ:PCAR) Bought by Ground Swell Capital LLC

Key Points

• Ground Swell Capital LLC invested $406,000 in PACCAR Inc. by acquiring 4,170 shares during the first quarter.
• Institutional investors now hold 64.90% of PACCAR's stock, with several hedge funds significantly increasing their positions recently.
• PACCAR announced a quarterly dividend of $0.33 per share, with a dividend yield of 1.3%, set to be paid on September 4th.

Ground Swell Capital LLC acquired a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,170 shares of the company's stock, valued at approximately $406,000.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Kovitz Investment Group Partners LLC grew its stake in shares of PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after acquiring an additional 4,219,964 shares in the last quarter. Pacer Advisors Inc. lifted its position in PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock worth $205,469,000 after purchasing an additional 2,041,168 shares during the period. Nuveen LLC bought a new stake in PACCAR during the first quarter worth about $125,566,000. Vanguard Group Inc. lifted its position in PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after acquiring an additional 987,805 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

PACCAR Trading Down 1.5%

NASDAQ:PCAR traded down $1.47 on Friday, reaching $98.22. 1,830,450 shares of the stock traded hands, compared to its average volume of 3,295,420. The firm has a market capitalization of $51.58 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.94 and a beta of 0.91. The company's 50 day moving average is $96.34 and its 200-day moving average is $97.12. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 1-year low of $84.65 and a 1-year 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, beating analysts' consensus estimates of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company's revenue for the quarter 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. Equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio (DPR) is 22.60%.

Analysts Set New Price Targets

A number of research firms have recently commented on PCAR. Truist Financial dropped their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a report on Wednesday, July 23rd. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and increased their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Evercore ISI dropped their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.77.

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.