Sequoia Financial Advisors LLC Acquires 2,269 Shares of PACCAR Inc (NASDAQ:PCAR)

Sequoia Financial Advisors LLC lifted its position in PACCAR Inc (NASDAQ:PCAR) by 35.3% during the 3rd quarter, Holdings Channel reports. The firm owned 8,693 shares of the company’s stock after acquiring an additional 2,269 shares during the period. Sequoia Financial Advisors LLC’s holdings in PACCAR were worth $858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PCAR. Quarry LP bought a new position in shares of PACCAR in the second quarter worth approximately $26,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR in the first quarter worth approximately $27,000. Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR in the second quarter worth approximately $36,000. Finally, Fortitude Family Office LLC grew its holdings in shares of PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent analyst reports. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial raised their price target on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI dropped their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Citigroup raised their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $114.18.

PACCAR Stock Performance

Shares of PACCAR stock opened at $105.90 on Friday. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $55.51 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91. The business has a fifty day simple moving average of $99.18 and a two-hundred day simple moving average of $103.42. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 earnings per share. On average, equities analysts forecast that PACCAR Inc will post 8.07 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared 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 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 12.45%.

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.