Impact Partnership Wealth LLC Invests $583,000 in PACCAR Inc. (NASDAQ:PCAR)

Impact Partnership Wealth LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,988 shares of the company's stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC grew its position in PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock worth $22,094,000 after purchasing an additional 12,143 shares during the last quarter. American Century Companies Inc. grew its position in PACCAR by 15.8% in the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock worth $65,675,000 after purchasing an additional 86,215 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of PACCAR by 15.1% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after acquiring an additional 104,281 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of PACCAR by 62.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after acquiring an additional 13,904 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of PACCAR by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after acquiring an additional 4,429 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PCAR shares. Citigroup raised their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and cut their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Wall Street Zen downgraded shares of PACCAR from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $104.59.

PACCAR Trading Down 0.4%

NASDAQ PCAR traded down $0.37 during trading hours on Friday, reaching $93.68. The company's stock had a trading volume of 3,704,225 shares, compared to its average volume of 2,739,900. The firm has a fifty day simple moving average of $94.71 and a 200-day simple moving average of $98.58. The stock has a market cap of $49.18 billion, a P/E ratio of 14.19, a P/E/G ratio of 3.50 and a beta of 0.94. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business's quarterly revenue was down 16.0% compared to the same quarter last year. During the same period last year, the business earned $2.27 EPS. Equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is 20.00%.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.02% of the company's stock.

PACCAR 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.