Vise Technologies Inc. Buys New Shares in PACCAR Inc. $PCAR

Key Points

• Vise Technologies initiated a PACCAR position by purchasing 15,108 shares worth approximately $1.815 million in the second quarter. Institutional investors collectively own 64.9% of the company.
• PACCAR reported quarterly EPS of $1.43, beating estimates of $1.36, while revenue reached $7.55 billion versus the $7.05 billion consensus estimate. Shares were recently trading at $131.03, up 1.6%.
• The company declared a quarterly dividend of $0.35, equivalent to $1.40 annually and a 1.1% yield. Analysts maintain an overall “Hold” rating, with an average price target of $131.70, while insiders have sold roughly $7.6 million in stock over the past three months.

Vise Technologies Inc. purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,108 shares of the company's stock, valued at approximately $1,815,000.

Other large investors have also added to or reduced their stakes in the company. Paladin Partners LLC acquired a new position in PACCAR in the 2nd quarter worth approximately $27,000. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR in the 4th quarter valued at $27,000. Steph & Co. acquired a new stake in shares of PACCAR in the first quarter worth $29,000. MCF Advisors LLC raised its holdings in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after purchasing an additional 92 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in shares of PACCAR during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 1.6%

Shares of PCAR stock opened at $131.03 on Friday. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The firm has a market cap of $68.97 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The company has a 50-day moving average of $126.48 and a two-hundred day moving average of $121.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the firm earned $1.37 EPS. The business's revenue was up .5% on a year-over-year basis. On average, analysts predict that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR's payout ratio is presently 29.41%.

Insider Transactions at PACCAR

In other PACCAR news, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 50,975 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the transaction, the chief executive officer directly owned 268,625 shares of the company's stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PCAR shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PACCAR in a research report on Tuesday. Truist Financial upped their target price on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Sanford C. Bernstein restated an "outperform" rating and set a $148.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Citigroup boosted their price objective on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Finally, Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, PACCAR has an average rating of "Hold" and an average price target of $131.70.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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