RFG Advisory LLC Purchases 417 Shares of PACCAR Inc (NASDAQ:PCAR)

RFG Advisory LLC grew its position in PACCAR Inc (NASDAQ:PCAR) by 14.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,314 shares of the company’s stock after purchasing an additional 417 shares during the period. RFG Advisory LLC’s holdings in PACCAR were worth $411,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PCAR. LPL Financial LLC lifted its holdings in shares of PACCAR by 18.5% in the third quarter. LPL Financial LLC now owns 208,113 shares of the company’s stock valued at $17,694,000 after purchasing an additional 32,563 shares in the last quarter. Mariner LLC lifted its holdings in shares of PACCAR by 13.6% in the third quarter. Mariner LLC now owns 57,398 shares of the company’s stock valued at $4,880,000 after purchasing an additional 6,851 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of PACCAR by 3.6% in the third quarter. Stifel Financial Corp now owns 164,114 shares of the company’s stock valued at $13,953,000 after purchasing an additional 5,638 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of PACCAR by 51.6% in the third quarter. Federated Hermes Inc. now owns 3,833 shares of the company’s stock valued at $326,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in shares of PACCAR by 84.9% in the third quarter. Natixis Advisors L.P. now owns 191,445 shares of the company’s stock valued at $16,277,000 after purchasing an additional 87,879 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCAR. Truist Financial reiterated a “hold” rating and set a $121.00 target price (up previously from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

Insider Activity

In related news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

PACCAR stock opened at $106.89 on Tuesday. PACCAR Inc has a 12 month low of $78.58 and a 12 month high of $125.50. The stock’s 50 day moving average is $108.42 and its 200-day moving average is $107.56. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.62 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the prior year, the business earned $2.25 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that PACCAR Inc will post 8.36 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a $0.30 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PACCAR’s dividend payout ratio is presently 12.45%.

PACCAR Company 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.