EverSource Wealth Advisors LLC Acquires 109 Shares of PACCAR Inc (NASDAQ:PCAR)

EverSource Wealth Advisors LLC boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 728 shares of the company’s stock after purchasing an additional 109 shares during the period. EverSource Wealth Advisors LLC’s holdings in PACCAR were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. YHB Investment Advisors Inc. bought a new position in shares of PACCAR in the 1st quarter valued at about $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co bought a new position in shares of PACCAR in the 1st quarter valued at about $29,000. Meeder Asset Management Inc. grew its position in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of PACCAR in the 1st quarter valued at about $31,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PCAR shares. Truist Financial decreased their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Citigroup reduced their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.73.

PACCAR Price Performance

Shares of PACCAR stock opened at $98.13 on Friday. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. 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 50-day simple moving average of $96.18 and a two-hundred day simple moving average of $105.76. The stock has a market capitalization of $51.44 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 1.53 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the firm earned $2.33 EPS. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is presently 12.45%.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.02% of the company’s stock.

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.