Gilpin Wealth Management LLC Invests $700,000 in PACCAR Inc. $PCAR

Gilpin Wealth Management LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,395 shares of the company’s stock, valued at approximately $700,000.

Several other large investors also recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators boosted its stake in shares of PACCAR by 9.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after acquiring an additional 80 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of PACCAR by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after acquiring an additional 81 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in shares of PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after acquiring an additional 87 shares in the last quarter. Jackson Square Capital LLC boosted its stake in shares of PACCAR by 3.5% during the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after acquiring an additional 90 shares in the last quarter. Finally, Lakeside Advisors INC. boosted its stake in shares of PACCAR by 0.3% during the 4th quarter. Lakeside Advisors INC. now owns 34,053 shares of the company’s stock worth $3,729,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $113.99 on Thursday. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The stock has a market capitalization of $59.99 billion, a PE ratio of 24.25, a P/E/G ratio of 1.11 and a beta of 0.98. The stock has a 50-day simple moving average of $117.59 and a 200 day simple moving average of $117.37.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The firm’s revenue was down 9.8% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is presently 29.79%.

Analysts Set New Price Targets

PCAR has been the subject of several recent analyst reports. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Citigroup reiterated a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Truist Financial upped their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $122.00.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.