OneAscent Wealth Management LLC Invests $225,000 in PACCAR Inc (NASDAQ:PCAR)

OneAscent Wealth Management LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,816 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fisher Asset Management LLC lifted its stake in shares of PACCAR by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after acquiring an additional 89,984 shares during the last quarter. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter valued at about $448,288,000. Charles Schwab Investment Management Inc. lifted its stake in shares of PACCAR by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock valued at $289,788,000 after acquiring an additional 54,273 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of PACCAR by 0.9% in the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after acquiring an additional 23,394 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after acquiring an additional 1,095,894 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.0 %

PCAR stock opened at $102.94 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The company has a market capitalization of $53.96 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. The business’s 50 day moving average price is $107.60 and its two-hundred day moving average price is $107.70. PACCAR Inc has a fifty-two week low of $80.64 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.25 EPS. As a group, analysts forecast that PACCAR Inc will post 8.35 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a $0.30 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The shares were 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. Insiders have sold 45,040 shares of company stock worth $4,779,241 in the last 90 days. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PCAR shares. Raymond James started coverage on PACCAR in a research note on Friday. They issued a “market perform” rating for the company. The Goldman Sachs Group upped their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. StockNews.com lowered PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup began coverage on PACCAR in a research report on Wednesday. They set a “neutral” rating and a $115.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.38.

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.