Inspire Investing LLC Purchases 9,932 Shares of PACCAR Inc. $PCAR

Key Points

• Inspire Investing LLC increased its stake in PACCAR Inc. by 15.1%, owning 75,918 shares valued at approximately $7.39 million.
• Several hedge funds significantly raised their positions in PACCAR, indicating growing institutional interest in the stock, with 64.90% of it owned by institutional investors.
• PACCAR's CEO recently sold nearly 40,000 shares at around $99.52 each, while the firm reported a decline in quarterly revenue, despite beating earnings expectations with an EPS of $1.37.

Inspire Investing LLC boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,918 shares of the company's stock after acquiring an additional 9,932 shares during the quarter. PACCAR comprises about 0.9% of Inspire Investing LLC's investment portfolio, making the stock its 16th biggest holding. Inspire Investing LLC's holdings in PACCAR were worth $7,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares in the last quarter. Pacer Advisors Inc. increased its stake in PACCAR by 2,957.4% in the 1st 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 in the last quarter. The Manufacturers Life Insurance Company increased its stake in PACCAR by 177.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company's stock worth $255,187,000 after purchasing an additional 1,677,736 shares in the last quarter. Jones Financial Companies Lllp increased its stake in PACCAR by 16,393.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company's stock worth $139,402,000 after purchasing an additional 1,422,992 shares in the last quarter. Finally, Nuveen LLC purchased a new position in PACCAR in the 1st quarter worth about $125,566,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on PCAR shares. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. 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. Evercore ISI set a $114.00 price target on PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. boosted their price target on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR Stock Performance

PCAR traded up $0.75 on Friday, hitting $102.51. The company had a trading volume of 3,812,113 shares, compared to its average volume of 2,093,391. The company's fifty day moving average price is $98.48 and its 200 day moving average price is $96.02. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The stock has a market cap of $53.83 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 4.12 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 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 company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the company earned $2.13 earnings per share. The company's quarterly revenue was down 15.7% compared to the same quarter last year. Equities analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders 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 dividend yield of 1.3%. PACCAR's payout ratio is 22.60%.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the company'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 value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

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.