Freestone Capital Holdings LLC Buys 833 Shares of PACCAR Inc. $PCAR

Freestone Capital Holdings LLC raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,247 shares of the company’s stock after purchasing an additional 833 shares during the period. Freestone Capital Holdings LLC’s holdings in PACCAR were worth $784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PCAR. Hazlett Burt & Watson Inc. boosted its holdings in shares of PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares during the period. Bayforest Capital Ltd lifted its position in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Accent Capital Management LLC acquired a new position in PACCAR during the 1st quarter worth $40,000. Hantz Financial Services Inc. boosted its holdings in PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares during the period. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of PACCAR in the second quarter valued at about $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $97.46 on Tuesday. The stock’s 50 day simple moving average is $98.47 and its 200-day simple moving average is $96.23. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $51.18 billion, a PE ratio of 19.07, a P/E/G ratio of 4.11 and a beta of 0.94. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 25.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PCAR shares. Morgan Stanley set a $90.00 price objective on PACCAR in a research report on Tuesday, October 21st. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Jefferies Financial Group reissued a “hold” rating and issued a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Zacks Research downgraded shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Evercore ISI set a $114.00 target price on shares of PACCAR and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $106.59.

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.