HB Wealth Management LLC Has $5.04 Million Position in PACCAR Inc. $PCAR

Key Points

• HB Wealth Management LLC increased its stake in PACCAR Inc. by 9.6%, owning a total of 52,990 shares valued at approximately $5 million as of their latest SEC filing.
• PACCAR's recent earnings report revealed an EPS of $1.37, surpassing analysts' expectations, but a 15.7% decline in revenue year-over-year.
• The company plans to issue a $0.33 per share quarterly dividend on December 3rd, with a 1.3% yield for shareholders.

HB Wealth Management LLC boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,990 shares of the company's stock after acquiring an additional 4,643 shares during the quarter. HB Wealth Management LLC's holdings in PACCAR were worth $5,037,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. GC Wealth Management RIA LLC acquired a new position in PACCAR during the second quarter worth $298,000. Twelve Points Wealth Management LLC raised its stake in PACCAR by 11.5% during the second quarter. Twelve Points Wealth Management LLC now owns 16,220 shares of the company's stock worth $1,542,000 after acquiring an additional 1,678 shares in the last quarter. Patton Fund Management Inc. acquired a new position in PACCAR during the second quarter worth $228,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in PACCAR by 6.2% during the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 844,469 shares of the company's stock worth $80,275,000 after acquiring an additional 49,523 shares in the last quarter. Finally, Significant Wealth Partners LLC raised its stake in PACCAR by 16.1% during the second quarter. Significant Wealth Partners LLC now owns 3,621 shares of the company's stock worth $344,000 after acquiring an additional 503 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Price Performance

PACCAR stock opened at $98.32 on Wednesday. The business's 50-day simple moving average is $99.22 and its 200 day simple moving average is $95.66. The stock has a market cap of $51.63 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 4.01 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter last year, the business earned $2.13 earnings per share. The company's revenue was down 15.7% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's dividend payout ratio (DPR) is 22.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PCAR. Truist Financial lowered their target price on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and raised their target price for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.68.

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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