Bleakley Financial Group LLC Purchases 109 Shares of PACCAR Inc (NASDAQ:PCAR)

Bleakley Financial Group LLC increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,721 shares of the company’s stock after purchasing an additional 109 shares during the period. Bleakley Financial Group LLC’s holdings in PACCAR were worth $861,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Quarry LP bought a new stake in shares of PACCAR in the 2nd quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new stake in PACCAR during the first quarter valued at approximately $27,000. Riverview Trust Co bought a new stake in shares of PACCAR in the 1st quarter valued at approximately $29,000. Meeder Asset Management Inc. boosted its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 2.4 %

Shares of NASDAQ:PCAR opened at $110.09 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 $98.19 and its 200 day moving average is $103.61. The stock has a market cap of $57.71 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share 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 analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 EPS. Sell-side analysts predict that PACCAR Inc will post 8.06 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is presently 12.71%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of analyst reports. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Citigroup raised their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI cut their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Truist Financial decreased their price objective on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, Raymond James initiated coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $114.00.

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.