HB Wealth Management LLC Buys 12,686 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• HB Wealth Management LLC increased its stake in PACCAR Inc. by 35.6%, owning 48,347 shares worth approximately $4.7 million after additional purchases in the first quarter.
• PACCAR recently declared a quarterly dividend of $0.33 per share, with a dividend yield of 1.30%, reflecting a payout ratio of 22.60%.
• Analysts have mixed opinions on PACCAR's stock, with a current average target price of $106.45 and ratings ranging from "buy" to "hold" among the majority.

HB Wealth Management LLC raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 35.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 48,347 shares of the company's stock after purchasing an additional 12,686 shares during the quarter. HB Wealth Management LLC's holdings in PACCAR were worth $4,708,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. lifted its holdings in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. raised its holdings in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares during the period. Alpine Bank Wealth Management bought a new position in PACCAR in the first quarter valued at $29,000. Sunbelt Securities Inc. grew its position in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the period. Finally, JFS Wealth Advisors LLC grew its holdings 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 during the period. Institutional investors own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their target price for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.77.

PACCAR Trading Up 0.3%

Shares of NASDAQ:PCAR traded up $0.25 during trading on Thursday, reaching $99.25. The stock had a trading volume of 820,049 shares, compared to its average volume of 2,935,203. The stock has a market cap of $52.10 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 3.97 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 firm's fifty day moving average is $95.26 and its 200 day moving average is $98.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.40 and a current ratio of 1.73.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.33%. PACCAR's dividend payout ratio is currently 22.60%.

Insider Activity

In other news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director directly owned 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

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.