Everett Harris & Co. CA Takes $1.24 Million Position in PACCAR Inc. $PCAR

Everett Harris & Co. CA purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, HoldingsChannel.com reports. The firm purchased 10,333 shares of the company’s stock, valued at approximately $1,241,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Vanguard Group Inc. lifted its holdings in PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after acquiring an additional 363,782 shares during the period. Wellington Management Group LLP grew its stake in shares of PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after purchasing an additional 3,597,283 shares during the period. State Street Corp grew its stake in shares of PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after purchasing an additional 94,869 shares during the period. Geode Capital Management LLC increased its holdings in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of PACCAR in the 4th quarter valued at about $727,745,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Up 0.1%

NASDAQ:PCAR opened at $130.79 on Friday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $125.32 and a 200-day simple moving average of $121.66. The company has a market capitalization of $68.84 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 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 firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the company earned $1.37 EPS. The firm’s revenue was up .5% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is currently 29.41%.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction that occurred on 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 directly owned 1,391 shares of the company’s stock, valued at $184,307.50. This trade represents a 58.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president owned 3,831 shares of the company’s stock, valued at $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,842 shares of company stock valued at $7,565,677 over the last three months. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PCAR shares. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Truist Financial lifted their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Finally, Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.70.

PACCAR Company 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.