PACCAR Inc (NASDAQ:PCAR) Shares Bought by Graypoint LLC

Graypoint LLC boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,793 shares of the company’s stock after buying an additional 236 shares during the quarter. Graypoint LLC’s holdings in PACCAR were worth $390,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Fisher Asset Management LLC boosted its position in shares of PACCAR by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock valued at $479,466,000 after purchasing an additional 83,444 shares during the period. Norges Bank acquired a new position in shares of PACCAR in the 4th quarter valued at $448,288,000. Capital International Investors boosted its position in shares of PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares during the period. Principal Financial Group Inc. boosted its position in PACCAR by 1.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after acquiring an additional 48,784 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in PACCAR by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after acquiring an additional 54,273 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $96.18 on Monday. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $99.10 and its two-hundred day moving average is $107.68. The company has a market cap of $50.41 billion, a P/E ratio of 9.98, a P/E/G ratio of 1.49 and a beta of 0.92. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50.

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

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 15th. PACCAR’s payout ratio is presently 12.45%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research reports. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI cut their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial cut their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.73.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR 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 sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by insiders.

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.