Vest Financial LLC Boosts Holdings in PACCAR Inc. $PCAR

Key Points

• Vest Financial LLC increased its holdings in PACCAR Inc. by 11.7% during the second quarter, now owning 394,693 shares valued at approximately $37.5 million.
• PACCAR's CFO sold 5,000 shares at an average price of $100.94, resulting in a significant reduction of ownership by 91.44%, while the CEO also sold 39,965 shares at an average price of $99.52.
• PACCAR announced a quarterly dividend of $0.33 per share, with an ex-dividend date set for November 12th, representing an annualized yield of 1.4%.

Vest Financial LLC raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 394,693 shares of the company's stock after purchasing an additional 41,195 shares during the period. Vest Financial LLC owned 0.08% of PACCAR worth $37,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its stake in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after buying an additional 100 shares in the last quarter. SPC Financial Inc. lifted its stake in shares of PACCAR by 1.2% in the second quarter. SPC Financial Inc. now owns 14,689 shares of the company's stock worth $1,396,000 after buying an additional 180 shares in the last quarter. CWM LLC lifted its stake in shares of PACCAR by 2.2% in the second quarter. CWM LLC now owns 253,373 shares of the company's stock worth $24,086,000 after buying an additional 5,344 shares in the last quarter. OFI Invest Asset Management lifted its stake in shares of PACCAR by 54.1% in the second quarter. OFI Invest Asset Management now owns 1,057 shares of the company's stock worth $100,000 after buying an additional 371 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of PACCAR by 13.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 69,935 shares of the company's stock worth $6,669,000 after buying an additional 8,206 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR 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 directly owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares of the company's stock, valued at approximately $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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. Citigroup raised 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. Weiss Ratings reissued a "buy (b-)" rating on shares of PACCAR in a research note on Wednesday, October 8th. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and raised their price target for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, Truist Financial set a $97.00 price target on shares of PACCAR and gave the stock a "hold" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $107.59.

PACCAR Price Performance

Shares of PCAR stock opened at $93.00 on Monday. 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 firm's 50-day moving average is $98.73 and its two-hundred day moving average is $95.51. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a market capitalization of $48.83 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping 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 company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the firm earned $2.13 earnings per share. PACCAR's quarterly revenue was down 15.7% compared to the same quarter last year. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. PACCAR's dividend payout ratio (DPR) is currently 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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