Southeast Asset Advisors LLC Invests $287,000 in PACCAR Inc. $PCAR

Southeast Asset Advisors LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,024 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock worth $6,133,914,000 after acquiring an additional 1,113,520 shares during the period. Wellington Management Group LLP lifted its holdings in PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Geode Capital Management LLC boosted its position in PACCAR by 1.3% during the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after purchasing an additional 159,632 shares during the period. Northern Trust Corp increased its holdings in shares of PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock valued at $704,956,000 after purchasing an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of PACCAR by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after purchasing an additional 97,197 shares during the period. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the subject of several research analyst reports. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, July 28th. UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Wall Street Zen downgraded PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Morgan Stanley set a $90.00 target price on PACCAR in a research note on Tuesday, October 21st. Finally, Truist Financial boosted their price target on PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $106.54.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

PCAR opened at $102.46 on Tuesday. The business’s fifty day moving average is $98.01 and its 200-day moving average is $97.10. 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 0.57, a quick ratio of 1.51 and a current ratio of 1.82. The firm has a market cap of $53.81 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company 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 firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. Sell-side analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors 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 yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is currently 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.