PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in PACCAR Inc (NASDAQ:PCAR) by 11.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 385,473 shares of the company’s stock after acquiring an additional 38,498 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in PACCAR were worth $38,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Forsta AP Fonden raised its stake in shares of PACCAR by 11.7% during the third quarter. Forsta AP Fonden now owns 184,500 shares of the company’s stock valued at $18,206,000 after purchasing an additional 19,300 shares in the last quarter. Mediolanum International Funds Ltd grew its position in PACCAR by 157.8% in the 3rd quarter. Mediolanum International Funds Ltd now owns 127,280 shares of the company’s stock valued at $12,469,000 after buying an additional 77,917 shares in the last quarter. Mcdaniel Terry & Co. increased its stake in PACCAR by 0.7% during the 3rd quarter. Mcdaniel Terry & Co. now owns 385,745 shares of the company’s stock valued at $38,065,000 after buying an additional 2,559 shares during the period. Bogart Wealth LLC raised its position in shares of PACCAR by 21.7% during the 3rd quarter. Bogart Wealth LLC now owns 140,098 shares of the company’s stock worth $13,825,000 after buying an additional 24,938 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its stake in shares of PACCAR by 11.6% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 5,060 shares of the company’s stock worth $499,000 after acquiring an additional 525 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Up 1.0 %

Shares of PCAR opened at $105.90 on Friday. The business’s 50-day moving average price is $99.39 and its 200 day moving average price is $103.20. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $55.51 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. Analysts expect that PACCAR Inc will post 8.07 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s payout ratio is currently 12.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on PCAR shares. Citigroup raised their price objective on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial boosted their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus price target of $114.18.

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.