PACCAR Inc. $PCAR Shares Acquired by Clearstead Trust LLC

Clearstead Trust LLC increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 738.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 922 shares of the company’s stock after purchasing an additional 812 shares during the period. Clearstead Trust LLC’s holdings in PACCAR were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in PCAR. Hazlett Burt & Watson Inc. raised its holdings in shares of PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd grew its position in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after buying an additional 274 shares during the last quarter. Accent Capital Management LLC acquired a new stake in PACCAR during the first quarter worth about $40,000. Hantz Financial Services Inc. lifted its holdings in PACCAR by 43.8% in the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after acquiring an additional 134 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in PACCAR in the second quarter worth about $43,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.0%

PCAR opened at $95.59 on Friday. The stock’s 50 day moving average price is $98.22 and its 200 day moving average price is $96.64. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The stock has a market cap of $50.20 billion, a P/E ratio of 18.71, a P/E/G ratio of 4.11 and a beta of 0.95. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company’s revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 EPS. As a group, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 25.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCAR shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of PACCAR in a report on Tuesday, October 21st. Vertical Research upgraded PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $106.54.

Insider Buying and Selling

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

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.