Locust Wood Capital Advisers LLC Invests $751,000 in PACCAR Inc. $PCAR

Locust Wood Capital Advisers LLC bought a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,900 shares of the company’s stock, valued at approximately $751,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its position in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in PACCAR by 2.9% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after purchasing an additional 105 shares in the last quarter. Intellectus Partners LLC lifted its holdings in PACCAR by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after buying an additional 109 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its position in PACCAR by 1.2% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock valued at $917,000 after buying an additional 116 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in shares of PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PCAR. UBS Group set a $103.00 price target on PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Wall Street Zen downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Morgan Stanley set a $90.00 target price on shares of PACCAR in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given 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 “Hold” and a consensus target price of $106.54.

PACCAR Stock Up 1.8%

Shares of PACCAR stock opened at $105.89 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The business’s fifty day moving average price is $98.63 and its two-hundred day moving average price is $97.53. The company has a market capitalization of $55.61 billion, a P/E ratio of 20.72, a PEG ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last issued its quarterly 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 business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the business posted $1.85 earnings per share. As a group, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current 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 issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.2%. PACCAR’s payout ratio is presently 25.83%.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 3,369 shares of the business’s 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 sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.02% of the stock is owned by company insiders.

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.