Foster & Motley Inc. Buys 2,744 Shares of PACCAR Inc. (NASDAQ:PCAR)

Foster & Motley Inc. grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,918 shares of the company’s stock after purchasing an additional 2,744 shares during the period. Foster & Motley Inc.’s holdings in PACCAR were worth $7,782,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of 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 buying an additional 240 shares in the last quarter. Meeder Asset Management Inc. lifted its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the period. Alpine Bank Wealth Management bought a new position in PACCAR during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. lifted its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after purchasing an additional 350 shares during the period. Finally, Bayforest Capital Ltd lifted its position in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after purchasing an additional 274 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $99.48 on Wednesday. The stock has a market capitalization of $52.22 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 4.01 and a beta of 0.94. The company has a fifty day moving average of $95.17 and a 200 day moving average of $98.17. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.40 and a current ratio of 1.73.

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. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.33%. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PCAR shares. Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Morgan Stanley cut shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price for the company. in a report on Wednesday, April 16th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Truist Financial reduced their target price on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a report on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.77.

Insider Activity

In other news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director owned 13,015 shares of the company’s stock, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

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.