PACCAR Inc. $PCAR Shares Purchased by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,662 shares of the company’s stock after buying an additional 357 shares during the period. Turn8 Private Wealth Inc.’s holdings in PACCAR were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FORA Capital LLC purchased a new stake in shares of PACCAR during the 1st quarter worth approximately $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in PACCAR by 15.1% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock worth $77,404,000 after purchasing an additional 104,281 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in PACCAR by 62.1% during the first 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 in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in PACCAR by 51.9% during the first 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 in the last quarter. Finally, Moran Wealth Management LLC increased its position in shares of PACCAR by 28.8% in the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company’s stock valued at $22,898,000 after buying an additional 52,525 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PCAR. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Truist Financial reduced their price target on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Citigroup lifted their price objective on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Finally, UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and upped their target price for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.68.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Up 1.2%

Shares of NASDAQ PCAR opened at $98.66 on Thursday. The firm has a market cap of $51.81 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The firm’s 50 day moving average price is $98.29 and its 200 day moving average price is $96.22.

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

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

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.