Vise Technologies Inc. Purchases Shares of 14,775 PACCAR Inc. $PCAR

Vise Technologies Inc. acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, Holdings Channel reports. The institutional investor acquired 14,775 shares of the company’s stock, valued at approximately $1,405,000.

A number of other large investors have also modified their holdings of PCAR. Wellington Management Group LLP boosted its position in PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of PACCAR by 2,957.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company’s stock valued at $205,469,000 after buying an additional 2,041,168 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in PACCAR by 177.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after acquiring an additional 1,677,736 shares during the period. Jones Financial Companies Lllp increased its holdings in PACCAR by 16,393.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock worth $139,402,000 after acquiring an additional 1,422,992 shares in the last quarter. Finally, Nuveen LLC purchased a new position in PACCAR during the first quarter valued at $125,566,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $98.65 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The firm has a market capitalization of $51.81 billion, a P/E ratio of 19.35, a P/E/G ratio of 4.11 and a beta of 0.95. The business’s 50-day moving average is $98.32 and its two-hundred day moving average is $96.62. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 earnings per share. Analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s payout ratio is presently 25.83%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of research reports. Morgan Stanley set a $90.00 price target on shares of PACCAR in a research note on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price target on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Zacks Research lowered shares of PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Finally, Truist Financial increased their target price on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.59.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.02% of the stock is owned by company insiders.

PACCAR Profile

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.