Farther Finance Advisors LLC Raises Stake in PACCAR Inc (NASDAQ:PCAR)

Farther Finance Advisors LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 19.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 9,493 shares of the company’s stock after buying an additional 1,553 shares during the period. Farther Finance Advisors LLC’s holdings in PACCAR were worth $967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PCAR. Miracle Mile Advisors LLC lifted its stake in shares of PACCAR by 3.8% during the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock worth $307,000 after purchasing an additional 91 shares during the period. Security National Bank grew its holdings in PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after buying an additional 93 shares during the period. Brookstone Capital Management increased its stake in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after acquiring an additional 94 shares during the last quarter. Morningstar Investment Management LLC lifted its holdings in shares of PACCAR by 1.3% during the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after acquiring an additional 97 shares during the period. Finally, Graypoint LLC boosted its position in shares of PACCAR by 2.9% in the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock worth $441,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial reduced their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $112.73.

PACCAR Trading Up 1.6 %

NASDAQ:PCAR opened at $96.18 on Monday. The company has a market cap of $50.41 billion, a PE ratio of 9.98, a P/E/G ratio of 1.49 and a beta of 0.92. The business’s 50 day moving average is $99.10 and its two-hundred day moving average is $107.68. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter last year, the business earned $2.33 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, analysts predict that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio is presently 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.