Ballentine Partners LLC Grows Holdings in PACCAR Inc (NASDAQ:PCAR)

Ballentine Partners LLC grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.2% in the first quarter, Holdings Channel reports. The firm owned 6,262 shares of the company’s stock after acquiring an additional 525 shares during the period. Ballentine Partners LLC’s holdings in PACCAR were worth $776,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of PACCAR during the first quarter worth approximately $31,000. AdvisorNet Financial Inc lifted its holdings in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. ORG Partners LLC grew its position in shares of PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after buying an additional 372 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of PACCAR during the 4th quarter worth $37,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of PACCAR during the fourth quarter valued at $39,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 0.8 %

Shares of PCAR stock traded up $0.88 during trading hours on Monday, reaching $106.84. 86,998 shares of the company’s stock were exchanged, compared to its average volume of 2,438,406. PACCAR Inc has a 1 year low of $78.58 and a 1 year high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The stock has a market cap of $56.00 billion, a PE ratio of 10.99, a PEG ratio of 1.64 and a beta of 0.94. The stock’s fifty day moving average price is $108.64 and its two-hundred day moving average price is $107.48.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the previous year, the firm earned $2.25 EPS. PACCAR’s revenue was up 2.3% compared to the same quarter last year. Research analysts predict that PACCAR Inc will post 8.36 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock worth $4,779,241 over the last quarter. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCAR. The Goldman Sachs Group increased their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Truist Financial reissued a “hold” rating and set a $121.00 price objective (up from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Finally, UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

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.