Beverly Hills Private Wealth LLC Makes New $1.21 Million Investment in PACCAR Inc. $PCAR

Beverly Hills Private Wealth LLC acquired a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 10,076 shares of the company’s stock, valued at approximately $1,210,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OneDigital Investment Advisors LLC purchased a new position in shares of PACCAR in the second quarter worth $1,456,000. Plato Investment Management Ltd purchased a new position in PACCAR during the second quarter valued at $1,273,000. Insight Wealth Partners LLC purchased a new position in PACCAR during the second quarter valued at $909,000. Flputnam Investment Management Co. bought a new position in shares of PACCAR during the 2nd quarter valued at about $5,457,000. Finally, Global Retirement Partners LLC purchased a new position in shares of PACCAR during the second quarter valued at about $1,658,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $130.79 on Monday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24. The firm has a market capitalization of $68.84 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.04 and a beta of 0.97. The company has a fifty day moving average of $125.32 and a two-hundred day moving average of $121.66.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PCAR shares. Morgan Stanley set a $119.00 target price on PACCAR in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their target price on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Evercore set a $139.00 target price on shares of PACCAR in a report on Monday, May 11th. Sanford C. Bernstein reissued an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $131.70.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was 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 directly owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company’s stock.

PACCAR 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.