Bleakley Financial Group LLC Increases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Bleakley Financial Group LLC boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,721 shares of the company’s stock after acquiring an additional 109 shares during the quarter. Bleakley Financial Group LLC’s holdings in PACCAR were worth $861,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PCAR. Quarry LP purchased a new stake in shares of PACCAR during the second quarter worth about $26,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter worth about $27,000. Riverview Trust Co acquired a new stake in PACCAR in the 1st quarter worth about $29,000. Meeder Asset Management Inc. increased its stake in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR during the second quarter valued at approximately $36,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCAR has been the topic of a number of research analyst reports. Truist Financial dropped their price target on PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Citigroup upped their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $114.00.

PACCAR Stock Up 2.4 %

Shares of PCAR opened at $110.09 on Monday. The company’s 50-day moving average price is $98.19 and its 200 day moving average price is $103.61. The firm has a market cap of $57.71 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its earnings results 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). The company had revenue of $8.26 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. On average, sell-side analysts forecast that PACCAR Inc will post 8.06 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.09%. PACCAR’s payout ratio is presently 12.71%.

Insider Activity at PACCAR

In related 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 transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $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 link. Company 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.