Journey Strategic Wealth LLC Purchases 2,946 Shares of PACCAR Inc. (NASDAQ:PCAR)

Journey Strategic Wealth LLC boosted its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 111.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,597 shares of the company's stock after buying an additional 2,946 shares during the quarter. Journey Strategic Wealth LLC's holdings in PACCAR were worth $545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Wellington Management Group LLP boosted its position in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after buying an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC boosted its position in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after buying an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after buying an additional 987,805 shares in the last quarter. FMR LLC boosted its position in PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after buying an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp boosted its position in PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after buying an additional 565,967 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

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

PACCAR Trading Up 0.1%

Shares of PCAR traded up $0.14 on Friday, reaching $101.57. 2,983,287 shares of the company's stock were exchanged, compared to its average volume of 3,344,924. The company has a current ratio of 1.73, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. 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. The business has a 50 day moving average price of $95.03 and a two-hundred day moving average price of $98.35. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

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

PACCAR Dividend Announcement

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

Analyst Ratings Changes

PCAR has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of PACCAR from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Truist Financial dropped their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday. Evercore ISI dropped their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Citigroup boosted their target price on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Finally, Morgan Stanley downgraded 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 note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $106.45.

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.