Ellevest Inc. Takes Position in PACCAR Inc. $PCAR

Ellevest Inc. purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,369 shares of the company’s stock, valued at approximately $320,000.

A number of other hedge funds have also bought and sold shares of PCAR. Hazlett Burt & Watson Inc. boosted its holdings in PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd increased its holdings in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Accent Capital Management LLC acquired a new stake in shares of PACCAR in the first quarter valued at approximately $40,000. Hantz Financial Services Inc. boosted its stake in shares of PACCAR by 43.8% in the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after buying an additional 134 shares during the period. Finally, Marshall & Sullivan Inc. WA acquired a new stake in PACCAR during the second quarter worth approximately $43,000. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCAR has been the subject of several analyst reports. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. UBS Group set a $103.00 price objective on shares of PACCAR and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $106.59.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $98.28 on Friday. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $98.34 and its two-hundred day moving average price is $96.33. The stock has a market cap of $51.62 billion, a PE ratio of 19.23, a P/E/G ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm’s revenue was down 20.7% compared to the same quarter last year. During the same period last year, the company posted $1.85 EPS. As a group, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is presently 25.83%.

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.