Vest Financial LLC Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Vest Financial LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,498 shares of the company's stock after acquiring an additional 45,142 shares during the quarter. Vest Financial LLC owned 0.07% of PACCAR worth $34,420,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. boosted its stake in shares of PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after acquiring an additional 6,494 shares in the last quarter. LPL Financial LLC boosted its stake in shares of PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock worth $22,094,000 after acquiring an additional 12,143 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of PACCAR by 15.8% during the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock worth $65,675,000 after acquiring an additional 86,215 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of PACCAR by 7.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 61,741 shares of the company's stock worth $6,422,000 after acquiring an additional 4,390 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of PACCAR by 20.8% during the 4th quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company's stock worth $108,468,000 after acquiring an additional 179,577 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.2%

PACCAR stock opened at $92.43 on Friday. PACCAR Inc has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a 50 day moving average price of $91.94 and a 200 day moving average price of $102.20. The company has a market capitalization of $48.52 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the business posted $2.27 EPS. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. Research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.43%. PACCAR's dividend payout ratio is presently 20.00%.

Insider Buying and Selling at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director now directly owns 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PCAR. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Royal Bank of Canada reduced their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $104.14.

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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