Bleakley Financial Group LLC Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Bleakley Financial Group LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,749 shares of the company’s stock after buying an additional 222 shares during the quarter. Bleakley Financial Group LLC’s holdings in PACCAR were worth $1,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PCAR. American Century Companies Inc. raised its stake in PACCAR by 23.3% in the third quarter. American Century Companies Inc. now owns 343,055 shares of the company’s stock worth $29,167,000 after buying an additional 64,723 shares in the last quarter. Nordea Investment Management AB grew its stake in PACCAR by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 68,258 shares of the company’s stock worth $6,656,000 after purchasing an additional 4,029 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of PACCAR by 23.5% during the 4th quarter. Sound Income Strategies LLC now owns 787 shares of the company’s stock worth $77,000 after buying an additional 150 shares during the last quarter. Strategic Investment Advisors MI raised its stake in PACCAR by 2.2% during the 4th quarter. Strategic Investment Advisors MI now owns 7,849 shares of the company’s stock valued at $766,000 after acquiring an additional 168 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCAR. Raymond James started coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup initiated coverage on shares of PACCAR in a report on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price objective for the company. Truist Financial lowered their price target on PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada began coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus price target of $113.92.

PACCAR Trading Up 0.3 %

NASDAQ:PCAR traded up $0.32 during trading hours on Wednesday, hitting $109.21. The stock had a trading volume of 3,922,401 shares, compared to its average volume of 2,520,008. The business’s 50 day moving average is $105.95 and its 200-day moving average is $108.24. The company has a market cap of $57.24 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.25 earnings per share. Sell-side analysts anticipate that PACCAR Inc will post 8.35 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Buying and Selling

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by company insiders.

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.