Net Worth Advisory Group Acquires 246 Shares of PACCAR Inc (NASDAQ:PCAR)

Net Worth Advisory Group lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,150 shares of the company’s stock after acquiring an additional 246 shares during the quarter. Net Worth Advisory Group’s holdings in PACCAR were worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Simon Quick Advisors LLC raised its holdings in shares of PACCAR by 24.9% during the first quarter. Simon Quick Advisors LLC now owns 4,677 shares of the company’s stock valued at $455,000 after acquiring an additional 932 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in PACCAR by 208.9% in the first quarter. Assenagon Asset Management S.A. now owns 192,344 shares of the company’s stock worth $18,729,000 after purchasing an additional 130,068 shares in the last quarter. SG Americas Securities LLC bought a new position in PACCAR in the first quarter worth $1,469,000. First National Bank of Mount Dora Trust Investment Services raised its holdings in PACCAR by 69.1% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 36,557 shares of the company’s stock worth $3,560,000 after purchasing an additional 14,936 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in PACCAR by 11.1% in the first quarter. GAMMA Investing LLC now owns 9,028 shares of the company’s stock worth $879,000 after purchasing an additional 901 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCAR. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Citigroup reduced their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Truist Financial reduced their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and reduced their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.14.

PACCAR Trading Down 0.9%

PACCAR stock opened at $93.88 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81. The stock has a market capitalization of $49.28 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. The business’s fifty day moving average is $91.86 and its 200 day moving average is $101.70.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period last year, the business earned $2.27 earnings per share. The company’s quarterly revenue was down 16.0% on a year-over-year basis. On average, sell-side analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.41%. PACCAR’s dividend payout ratio (DPR) is presently 20.00%.

Insider Activity at PACCAR

In other news, Director Pierre R. Breber bought 5,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.02% of the stock is currently owned by insiders.

PACCAR Company 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.