Abich Financial Wealth Management LLC Has $169,000 Holdings in PACCAR Inc (NASDAQ:PCAR)

Abich Financial Wealth Management LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 23.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,637 shares of the company’s stock after buying an additional 311 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in PACCAR were worth $169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors boosted its holdings in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares during the last quarter. TD Asset Management Inc boosted its stake in PACCAR by 112.2% during the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after acquiring an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in PACCAR during the fourth quarter valued at approximately $87,441,000. Renaissance Technologies LLC bought a new stake in PACCAR in the second quarter valued at approximately $88,437,000. Finally, Epoch Investment Partners Inc. increased its stake in PACCAR by 113.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after purchasing an additional 562,571 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCAR shares. Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Evercore ISI decreased their target price 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. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Citigroup decreased their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.73.

PACCAR Price Performance

NASDAQ PCAR opened at $99.17 on Wednesday. The firm’s 50 day moving average is $96.65 and its 200-day moving average is $105.86. 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 company has a market capitalization of $51.99 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.91. 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 earnings per share (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 analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Equities research analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s 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.