PACCAR Inc. $PCAR Stake Increased by Applied Capital LLC FL

Applied Capital LLC FL boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 0.8% in the second quarter, HoldingsChannel.com reports. The firm owned 25,406 shares of the company’s stock after acquiring an additional 196 shares during the period. PACCAR accounts for approximately 1.8% of Applied Capital LLC FL’s investment portfolio, making the stock its 18th biggest holding. Applied Capital LLC FL’s holdings in PACCAR were worth $2,415,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its holdings in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after purchasing an additional 240 shares during the period. Alpine Bank Wealth Management acquired a new position in PACCAR in the first quarter worth $29,000. Bayforest Capital Ltd boosted its holdings in PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Accent Capital Management LLC acquired a new position in PACCAR in the first quarter worth $40,000. Finally, JFS Wealth Advisors LLC boosted its holdings in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $93.00 on Friday. The company has a market capitalization of $48.83 billion, a P/E ratio of 15.92, a PEG ratio of 3.88 and a beta of 0.94. The company has a 50-day simple moving average of $98.73 and a 200 day simple moving average of $95.55. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two 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.

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

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio is presently 22.60%.

Analysts Set New Price Targets

A number of equities analysts have commented on PCAR shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PACCAR in a report on Wednesday. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a report on Tuesday, August 19th. Truist Financial set a $97.00 price target on shares of PACCAR and gave the company a “hold” rating in a report on Wednesday. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

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.