GC Wealth Management RIA LLC Invests $298,000 in PACCAR Inc. $PCAR

GC Wealth Management RIA LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 3,137 shares of the company’s stock, valued at approximately $298,000.

Other hedge funds have also modified their holdings of the company. FORA Capital LLC bought a new position in shares of PACCAR in the first quarter worth approximately $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of PACCAR by 15.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock worth $77,404,000 after purchasing an additional 104,281 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of PACCAR by 62.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock worth $3,533,000 after purchasing an additional 13,904 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of PACCAR by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after purchasing an additional 4,429 shares during the period. Finally, Moran Wealth Management LLC boosted its position in shares of PACCAR by 28.8% in the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company’s stock worth $22,898,000 after purchasing an additional 52,525 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCAR. Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, July 28th. UBS Group upgraded shares of PACCAR from a “sell” rating to a “neutral” rating and upped their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $107.68.

PACCAR Price Performance

PCAR stock opened at $97.71 on Thursday. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $99.15 and a two-hundred day simple moving average of $95.68. The firm has a market capitalization of $51.31 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 3.99 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the business earned $2.13 earnings per share. PACCAR’s quarterly revenue was down 15.7% compared to the same quarter last year. Analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is 22.60%.

PACCAR Profile

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.