Drive Wealth Management LLC Has $259,000 Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Drive Wealth Management LLC lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,655 shares of the company’s stock after selling 169 shares during the quarter. Drive Wealth Management LLC’s holdings in PACCAR were worth $259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PCAR. LPL Financial LLC increased its holdings in PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after buying an additional 12,143 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of PACCAR by 15.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock valued at $77,404,000 after acquiring an additional 104,281 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of PACCAR by 62.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock worth $3,533,000 after purchasing an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of PACCAR by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after purchasing an additional 4,429 shares during the last quarter. Finally, Moran Wealth Management LLC raised its holdings in shares of PACCAR by 28.8% in the 1st quarter. Moran Wealth Management LLC now owns 235,167 shares of the company’s stock valued at $22,898,000 after purchasing an additional 52,525 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insiders Place Their Bets

In related news, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the acquisition, the director owned 13,015 shares in the company, valued at $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 available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley cut PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their target price on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday. Evercore ISI decreased their target price on PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Truist Financial cut their price target on PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a report on Wednesday. Finally, UBS Group upgraded shares of PACCAR from a “sell” rating to a “neutral” rating and upped their price objective for the company from $81.00 to $100.00 in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.45.

PACCAR Price Performance

NASDAQ:PCAR opened at $101.57 on Friday. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73. The firm’s 50-day simple moving average is $95.03 and its 200 day simple moving average is $98.35. The firm has a market cap of $53.32 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 4.03 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the firm earned $2.13 earnings per share. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.30%. PACCAR’s dividend payout ratio is presently 20.00%.

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.