PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 34.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 151,067 shares of the company’s stock after purchasing an additional 38,373 shares during the period. Thrivent Financial for Lutherans’ holdings in PACCAR were worth $15,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new position in shares of PACCAR during the first quarter valued at $27,000. New Covenant Trust Company N.A. bought a new position in PACCAR during the first quarter valued at about $27,000. Riverview Trust Co bought a new position in PACCAR during the first quarter valued at about $29,000. Rise Advisors LLC bought a new position in PACCAR during the first quarter valued at about $31,000. Finally, Meeder Asset Management Inc. boosted its stake in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

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 sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company 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 decreased their target price 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. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial decreased their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.73.

PACCAR Stock Performance

PCAR opened at $99.17 on Wednesday. The stock has a market cap of $51.98 billion, a PE ratio of 10.29, a P/E/G ratio of 1.48 and a beta of 0.91. 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 Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The stock’s 50 day simple moving average is $96.65 and its 200-day simple moving average is $105.86.

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

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) 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.