PACCAR Inc. $PCAR Shares Acquired by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies LLC increased its stake in PACCAR Inc. by 11.7% during the second quarter, owning a total of 44,150 shares worth approximately $4.34 million.
• The company's stock received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and a price target averaging $107.68.
• PACCAR recently announced a quarterly dividend of $0.33 per share, with a dividend yield of 1.3% and a payout ratio of 22.60%.

Insight Wealth Strategies LLC lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,150 shares of the company's stock after acquiring an additional 4,612 shares during the quarter. Insight Wealth Strategies LLC's holdings in PACCAR were worth $4,336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after buying an additional 290 shares during the period. Focus Partners Wealth grew its position in PACCAR by 11.8% during the fourth quarter. Focus Partners Wealth now owns 11,792 shares of the company's stock worth $1,227,000 after buying an additional 1,240 shares during the period. Janus Henderson Group PLC grew its position in PACCAR by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 66,713 shares of the company's stock worth $6,938,000 after buying an additional 1,202 shares during the period. NorthRock Partners LLC acquired a new position in PACCAR during the fourth quarter worth about $565,000. Finally, Pathstone Holdings LLC grew its position in PACCAR by 0.7% during the fourth quarter. Pathstone Holdings LLC now owns 78,444 shares of the company's stock worth $8,171,000 after buying an additional 576 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. Citigroup increased their price target 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, Truist Financial cut their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $107.68.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction on Friday, July 25th. The shares were 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 approximately $47,239.92. The trade was 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 owned by corporate insiders.

PACCAR Price Performance

PACCAR stock opened at $102.51 on Friday. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The firm has a fifty day moving average of $98.48 and a 200-day moving average of $96.09. The firm has a market capitalization of $53.83 billion, a P/E ratio of 17.55, a PEG ratio of 4.09 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the business 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, analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio is presently 22.60%.

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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