PACCAR Inc (NASDAQ:PCAR) Position Raised by Creative Planning

Creative Planning lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 74,672 shares of the company’s stock after acquiring an additional 1,920 shares during the period. Creative Planning’s holdings in PACCAR were worth $7,369,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Capital International Investors increased its stake in shares of PACCAR by 44.8% in the first 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. Renaissance Technologies LLC acquired a new stake in PACCAR in the 2nd quarter valued at approximately $88,437,000. Dorsey & Whitney Trust CO LLC raised its stake in PACCAR by 3,636.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock valued at $67,696,000 after acquiring an additional 531,794 shares in the last quarter. TD Asset Management Inc grew its stake in shares of PACCAR by 24.3% in the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after purchasing an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PACCAR in the second quarter worth $51,277,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCAR. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI cut their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Truist Financial lifted their price target on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $114.18.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

Shares of PCAR opened at $103.80 on Thursday. The company has a 50-day moving average of $98.98 and a two-hundred day moving average of $103.41. The stock has a market cap of $54.41 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.70 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 one year low of $80.94 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.16%. PACCAR’s dividend payout ratio is 12.71%.

PACCAR 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.