PACCAR Inc (NASDAQ:PCAR) Position Increased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 25.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,290 shares of the company’s stock after buying an additional 4,897 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in PACCAR were worth $2,500,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PCAR. YHB Investment Advisors Inc. acquired a new stake in PACCAR during the first quarter worth about $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR during the first quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $29,000. Rise Advisors LLC acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. lifted 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 last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

NASDAQ PCAR opened at $98.91 on Friday. The firm has a market capitalization of $51.85 billion, a PE ratio of 10.26, a P/E/G ratio of 1.48 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company’s 50 day simple moving average is $96.95 and its 200 day simple moving average is $106.15.

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 firm had revenue of $8.26 billion for 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 revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 earnings per share. As a group, equities research analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PCAR shares. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial cut their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Citigroup decreased their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Evercore ISI cut their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $112.73.

Insider Buying and Selling 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 shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is owned by corporate insiders.

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.