PACCAR Inc. $PCAR Position Lifted by Wedbush Securities Inc.

Wedbush Securities Inc. grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 104.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,040 shares of the company’s stock after purchasing an additional 7,180 shares during the period. Wedbush Securities Inc.’s holdings in PACCAR were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCAR. Paladin Partners LLC purchased a new position in PACCAR during the second quarter worth approximately $27,000. Fiduciary Financial Advisors acquired a new position in PACCAR during the second quarter worth $28,000. Compass Financial Management LLC purchased a new stake in PACCAR in the 2nd quarter valued at $28,000. Continuum Advisory LLC purchased a new stake in PACCAR in the 2nd quarter valued at $29,000. Finally, EFG International AG purchased a new stake in PACCAR in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $106.96 on Monday. The company’s 50-day moving average price is $117.32 and its 200 day moving average price is $120.22. PACCAR Inc. has a 12-month low of $93.86 and a 12-month high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The firm has a market cap of $56.30 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. During the same quarter last year, the firm posted $1.37 earnings per share. PACCAR’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR Inc. will post 5.91 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s payout ratio is 29.41%.

Insider Activity at PACCAR

In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the transaction, the vice president owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares of the company’s stock, valued at $184,307.50. This trade represents a 58.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is owned by insiders.

Analysts Set New Price Targets

PCAR has been the topic of several analyst reports. BNP Paribas Exane reduced their price target on PACCAR from $136.00 to $107.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $164.00 to $142.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Citigroup cut their price objective on shares of PACCAR from $140.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Finally, Morgan Stanley set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a report on Friday, September 4th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.88.

PACCAR Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.