Madrona Financial Services LLC Buys 1,274 Shares of PACCAR Inc. $PCAR

Madrona Financial Services LLC grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 15.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,352 shares of the company’s stock after purchasing an additional 1,274 shares during the period. Madrona Financial Services LLC’s holdings in PACCAR were worth $889,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PCAR. E Fund Management Hong Kong Co. Ltd. raised its holdings in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of PACCAR in the first quarter valued at $29,000. Bayforest Capital Ltd lifted its position in PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Accent Capital Management LLC bought a new position in PACCAR in the first quarter worth $40,000. Finally, JFS Wealth Advisors LLC boosted its stake in PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the company’s 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 transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $97.71 on Thursday. The business has a fifty day moving average of $99.15 and a 200-day moving average of $95.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The firm has a market cap of $51.31 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 3.99 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The company’s revenue was down 15.7% on a year-over-year basis. On average, equities research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PCAR shares. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. 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. JPMorgan Chase & Co. lifted their price objective on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Truist Financial dropped their target price on PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a report on Wednesday, July 23rd. Finally, Vertical Research raised PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.68.

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.