Global Retirement Partners LLC Takes Position in PACCAR Inc. $PCAR

Global Retirement Partners LLC bought a new position in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,805 shares of the company’s stock, valued at approximately $1,658,000.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on PCAR. Wells Fargo & Company upped their price objective on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Truist Financial lifted their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $131.70.

Insider Buying and Selling at PACCAR

In other news, 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 value of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares in the company, valued at approximately $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,842 shares of company stock valued at $7,565,677 in the last ninety days. 1.99% of the stock is owned by insiders.

PACCAR Stock Up 0.0%

Shares of NASDAQ:PCAR opened at $130.84 on Tuesday. The business’s 50 day moving average is $125.57 and its 200 day moving average is $121.73. The stock has a market cap of $68.87 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. 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.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating 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 analyst estimates of $7.05 billion. During the same period in the previous year, the company posted $1.37 EPS. PACCAR’s revenue was up .5% on a year-over-year basis. Sell-side analysts predict that PACCAR Inc. will post 5.85 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors 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 yield of 1.1%. PACCAR’s dividend payout ratio is 29.41%.

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.