PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 398,626 shares of the company’s stock after purchasing an additional 14,312 shares during the quarter. Russell Investments Group Ltd.’s holdings in PACCAR were worth $49,402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Miracle Mile Advisors LLC raised its stake in PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after buying an additional 91 shares during the last quarter. Morningstar Investment Management LLC raised its stake in PACCAR by 1.3% in the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after buying an additional 97 shares during the last quarter. Graypoint LLC raised its stake in PACCAR by 2.9% in the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after buying an additional 99 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in PACCAR by 3.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after buying an additional 100 shares during the last quarter. Finally, Evanson Asset Management LLC raised its stake in shares of PACCAR by 3.5% in the first quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock worth $400,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock valued at $4,779,241 over the last ninety days. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PCAR. Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com cut PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup began coverage on PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price objective for the company. Royal Bank of Canada began coverage on 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, Truist Financial reduced their price objective on PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, July 2nd. 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, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $113.92.

PACCAR Price Performance

PCAR traded down $0.07 during trading on Wednesday, hitting $108.82. The company’s stock had a trading volume of 1,005,666 shares, compared to its average volume of 2,498,562. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The business’s fifty day simple moving average is $105.95 and its 200 day simple moving average is $108.24. The firm has a market capitalization of $57.04 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.25 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the company earned $2.25 earnings per share. PACCAR’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that PACCAR Inc will post 8.35 EPS for the current fiscal year.

PACCAR Announces Dividend

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

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.