3,435 Shares in PACCAR Inc (NASDAQ:PCAR) Purchased by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. purchased a new position in PACCAR Inc (NASDAQ:PCAR) in the second quarter, Holdings Channel reports. The fund purchased 3,435 shares of the company’s stock, valued at approximately $344,000.

A number of other hedge funds have also bought and sold shares of PCAR. Quarry LP acquired a new position in PACCAR in the second quarter worth about $26,000. YHB Investment Advisors Inc. acquired a new position in PACCAR in the first quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new position in PACCAR in the first quarter worth about $27,000. Riverview Trust Co acquired a new position in PACCAR in the first quarter worth about $29,000. Finally, Meeder Asset Management Inc. boosted its stake in PACCAR by 269.7% in the second 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. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCAR has been the subject of a number of research reports. Truist Financial decreased their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Citigroup decreased their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Evercore ISI reduced their price objective 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, Raymond James initiated coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $112.73.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $97.92 on Thursday. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The stock has a market cap of $51.33 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.52 and a beta of 0.91. The stock’s 50 day moving average price is $95.78 and its 200 day moving average price is $105.20. 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS 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 firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the previous year, the firm earned $2.33 EPS. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 annualized dividend and a yield of 1.23%. PACCAR’s payout ratio is 12.45%.

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.