Insight Wealth Partners LLC Takes $909,000 Position in PACCAR Inc. $PCAR

Insight Wealth Partners LLC bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,564 shares of the company’s stock, valued at approximately $909,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flputnam Investment Management Co. acquired a new stake in PACCAR in the 2nd quarter valued at $5,457,000. Global Retirement Partners LLC acquired a new position in PACCAR during the second quarter worth $1,658,000. Bank of New York Mellon Corp acquired a new position in PACCAR during the second quarter worth $453,107,000. Leeward Financial Partners LLC purchased a new position in PACCAR during the second quarter valued at $600,000. Finally, ABN AMRO Bank N.V. purchased a new position in PACCAR during the second quarter valued at $488,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 50,975 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the transaction, the chief financial officer owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,842 shares of company stock valued at $7,565,677 in the last ninety days. 1.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PCAR has been the subject of a number of research reports. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Wells Fargo & Company lifted their price objective on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Morgan Stanley set a $119.00 price objective on PACCAR in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $131.70.

PACCAR Stock Performance

Shares of PACCAR stock opened at $130.79 on Monday. The business’s 50 day moving average price is $125.32 and its 200 day moving average price is $121.66. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the company earned $1.37 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts predict that PACCAR Inc. will post 5.85 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

About PACCAR

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.