Mutual Advisors LLC Raises Stock Position in PACCAR Inc. $PCAR

Mutual Advisors LLC lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 617.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,037 shares of the company's stock after buying an additional 15,524 shares during the quarter. Mutual Advisors LLC's holdings in PACCAR were worth $1,832,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FORA Capital LLC purchased a new stake in shares of PACCAR during the 1st quarter worth approximately $597,000. Cambridge Investment Research Advisors Inc. lifted its position 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 buying an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position 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 buying an additional 4,429 shares during the last quarter. Moran Wealth Management LLC lifted its position in shares of PACCAR by 28.8% during the 1st quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after buying an additional 52,525 shares during the last quarter. Finally, Stack Financial Management Inc purchased a new stake in shares of PACCAR during the 1st quarter worth approximately $20,585,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PCAR opened at $95.16 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The stock has a market capitalization of $49.97 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.89 and a beta of 0.94. The company's fifty day moving average is $98.53 and its two-hundred day moving average is $95.46. 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 announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.13 EPS. On average, sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's payout ratio is currently 22.60%.

Insider Buying and Selling at PACCAR

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Zacks Research cut shares of PACCAR from a "hold" rating to a "strong sell" rating in a report on Friday, October 10th. Finally, Truist Financial set a $97.00 target price on shares of PACCAR and gave the company a "hold" rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PACCAR has an average rating of "Moderate Buy" and an average price target of $108.14.

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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