Denali Advisors LLC Has $657,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Denali Advisors LLC grew its position in PACCAR Inc (NASDAQ:PCAR) by 20.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,300 shares of the company’s stock after buying an additional 900 shares during the period. Denali Advisors LLC’s holdings in PACCAR were worth $657,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Federated Hermes Inc. increased its position in shares of PACCAR by 51.6% during the third quarter. Federated Hermes Inc. now owns 3,833 shares of the company’s stock worth $326,000 after acquiring an additional 1,305 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in PACCAR in the third quarter valued at $10,949,000. Schonfeld Strategic Advisors LLC acquired a new stake in PACCAR in the 3rd quarter valued at $1,501,000. Advisors Asset Management Inc. increased its stake in PACCAR by 21.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,732 shares of the company’s stock valued at $742,000 after buying an additional 1,532 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in PACCAR by 44.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 902,890 shares of the company’s stock worth $76,766,000 after buying an additional 278,054 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Royal Bank of Canada initiated coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective on the stock. Citigroup began coverage on shares of PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 target price for the company. StockNews.com downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Truist Financial cut their price target on shares of PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.92.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of 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 SEC, which is available at this hyperlink. In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. 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. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $102.00 on Thursday. PACCAR Inc has a 52 week low of $80.91 and a 52 week high of $125.50. The company has a market capitalization of $53.46 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.21 and a beta of 0.92. The company has a 50-day simple moving average of $107.14 and a 200 day simple moving average of $107.84. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that PACCAR Inc will post 8.34 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. PACCAR’s dividend payout ratio is currently 12.45%.

About PACCAR

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.