10,536 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by Zega Financial LLC

Zega Financial LLC bought a new position in PACCAR Inc (NASDAQ:PCAR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,536 shares of the company’s stock, valued at approximately $1,085,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. acquired a new stake in shares of PACCAR in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter valued at approximately $27,000. Riverview Trust Co bought a new stake in PACCAR during the 1st quarter valued at $29,000. Meeder Asset Management Inc. boosted its position in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of PACCAR in the first quarter worth $31,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 2.4 %

Shares of PACCAR stock opened at $97.99 on Wednesday. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The firm has a market capitalization of $51.37 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $97.22 and its 200-day moving average is $106.41.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. PACCAR’s quarterly revenue was down 2.1% on a year-over-year basis. Equities analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PCAR. Raymond James started coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Citigroup dropped their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $112.73.

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.