Oak Thistle LLC Invests $485,000 in PACCAR Inc. (NASDAQ:PCAR)

Oak Thistle LLC purchased a new stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,983 shares of the company's stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. raised its position in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. grew its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of PACCAR in the first quarter worth about $29,000. Sunbelt Securities Inc. boosted its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 174 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Up 0.1%

PACCAR stock traded up $0.14 during midday trading on Friday, reaching $101.57. The stock had a trading volume of 2,983,287 shares, compared to its average volume of 3,344,924. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73. The stock has a market capitalization of $53.32 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 4.03 and a beta of 0.94. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The firm's fifty day simple moving average is $95.03 and its 200-day simple moving average is $98.35.

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

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.30%. PACCAR's dividend payout ratio is presently 20.00%.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director owned 13,015 shares of the company's stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR 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 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 ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCAR. Citigroup increased their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Evercore ISI lowered their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Wall Street Zen lowered PACCAR from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the company from $81.00 to $100.00 in a report on Wednesday. Finally, Royal Bank Of Canada cut their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $106.45.

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.