348 Shares in PACCAR Inc (NASDAQ:PCAR) Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 348 shares of the company’s stock, valued at approximately $36,000.

Other large investors also recently bought and sold shares of the company. Miracle Mile Advisors LLC grew 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 valued at $307,000 after purchasing an additional 91 shares during the period. Security National Bank grew its stake in shares of PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after purchasing an additional 93 shares during the period. Brookstone Capital Management grew 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 purchasing an additional 94 shares during the period. Morningstar Investment Management LLC grew its stake 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 valued at $740,000 after purchasing an additional 97 shares during the period. Finally, Graypoint LLC grew its stake in shares of PACCAR by 2.9% during the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after purchasing an additional 99 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 0.6 %

NASDAQ PCAR opened at $95.70 on Tuesday. The stock’s 50 day moving average is $97.28 and its 200 day moving average is $106.52. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The stock has a market cap of $50.17 billion, a PE ratio of 9.93, a P/E/G ratio of 1.47 and a beta of 0.91.

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

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. PACCAR’s dividend payout ratio is currently 12.45%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCAR. 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. Raymond James started coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup lowered their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Evercore ISI lowered their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.73.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the 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 directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

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.