PACCAR Inc. (NASDAQ:PCAR) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in PACCAR Inc. by 32.5%, owning approximately 0.05% of the company valued at $27.4 million.
• PACCAR recently announced a quarterly dividend of $0.33 per share, representing a 1.4% yield and a payout ratio of 22.60%.
• The company's latest earnings report showed EPS of $1.37, exceeding estimates, despite a 15.7% decrease in revenue compared to the previous year.

LPL Financial LLC increased its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 281,420 shares of the company's stock after buying an additional 69,015 shares during the quarter. LPL Financial LLC owned approximately 0.05% of PACCAR worth $27,402,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Peak Asset Management LLC boosted its stake in PACCAR by 0.6% in the first quarter. Peak Asset Management LLC now owns 139,477 shares of the company's stock valued at $13,581,000 after buying an additional 793 shares in the last quarter. one8zero8 LLC lifted its holdings in PACCAR by 3.9% during the 1st quarter. one8zero8 LLC now owns 28,788 shares of the company's stock worth $2,803,000 after purchasing an additional 1,086 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PACCAR by 33.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 286,333 shares of the company's stock worth $27,880,000 after acquiring an additional 72,269 shares during the last quarter. Empirical Finance LLC increased its position in shares of PACCAR by 1.7% during the 1st quarter. Empirical Finance LLC now owns 23,671 shares of the company's stock valued at $2,305,000 after purchasing an additional 405 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in PACCAR by 35.6% during the 1st quarter. HB Wealth Management LLC now owns 48,347 shares of the company's stock valued at $4,708,000 after acquiring an additional 12,686 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

PCAR stock traded up $1.86 during mid-day trading on Tuesday, reaching $98.20. 3,275,950 shares of the company traded hands, compared to its average volume of 3,626,571. PACCAR Inc. has a 52-week low of $84.65 and a 52-week 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 company has a market capitalization of $51.56 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.84 and a beta of 0.91. The company has a fifty day moving average price of $95.47 and a 200-day moving average price of $97.76.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating 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 the consensus estimate of $7.02 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio (DPR) is 22.60%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several research analyst reports. Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a report on Monday, July 28th. Royal Bank Of Canada cut their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Evercore ISI decreased their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.77.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm'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 transaction of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer owned 223,190 shares of the company's stock, 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. 2.02% of the stock is owned by company insiders.

PACCAR Company 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.