Stratos Wealth Advisors LLC Boosts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Stratos Wealth Advisors LLC raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,245 shares of the company’s stock after acquiring an additional 155 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in PACCAR were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new position in PACCAR in the second quarter worth approximately $26,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR during the 1st quarter worth $27,000. Riverview Trust Co purchased a new position in shares of PACCAR during the first quarter valued at $29,000. Meeder Asset Management Inc. raised 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 valued at $29,000 after acquiring an additional 205 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR in the second quarter worth about $36,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR 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 transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $104.79 on Wednesday. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The company has a market cap of $54.93 billion, a PE ratio of 11.10, a P/E/G ratio of 1.70 and a beta of 0.91. The business has a 50-day simple moving average of $98.78 and a two-hundred day simple moving average of $103.41.

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

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.71%.

Analysts Set New Price Targets

A number of research analysts have commented on PCAR shares. Evercore ISI cut their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Truist Financial lowered their target price on PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, BNP Paribas upgraded 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $114.00.

About PACCAR

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.