Leeward Financial Partners LLC Makes New Investment in PACCAR Inc. $PCAR

Leeward Financial Partners LLC bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,996 shares of the company’s stock, valued at approximately $600,000.

Other large investors have also recently made changes to their positions in the company. ABN AMRO Bank N.V. bought a new stake in PACCAR during the second quarter valued at about $488,000. Pacific Sage Partners LLC purchased a new stake in shares of PACCAR during the second quarter valued at about $926,000. Clearstead Trust LLC bought a new stake in shares of PACCAR in the 2nd quarter valued at about $106,000. Bridgewater Advisors Inc. bought a new stake in shares of PACCAR in the 2nd quarter valued at about $218,000. Finally, Everett Harris & Co. CA purchased a new position in shares of PACCAR in the 2nd quarter worth approximately $1,241,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 0.1%

NASDAQ PCAR opened at $130.79 on Friday. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a fifty day simple moving average of $125.32 and a two-hundred day simple moving average of $121.66. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The stock has a market cap of $68.84 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the company earned $1.37 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts forecast that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is currently 29.41%.

Insider Transactions at PACCAR

In other news, VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer owned 1,391 shares of the company’s stock, valued at approximately $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 56,842 shares of company stock worth $7,565,677 in the last 90 days. 1.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial increased their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Citigroup increased their price objective on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Wells Fargo & Company boosted their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their price target on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR has an average rating of “Hold” and an average target price of $131.70.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.