Insight Wealth Partners LLC Acquires New Holdings in PACCAR Inc. $PCAR

Insight Wealth Partners LLC bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,564 shares of the company’s stock, valued at approximately $909,000.

Several other hedge funds also recently bought and sold shares of PCAR. Ares Financial Consulting LLC purchased a new stake in PACCAR in the fourth quarter valued at approximately $27,000. MCF Advisors LLC lifted its stake in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. Steph & Co. purchased a new position in shares of PACCAR during the first quarter worth $29,000. Elyxium Wealth LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of PACCAR in the third quarter valued at $32,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Citigroup increased their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average price target of $131.70.

PACCAR Stock Performance

NASDAQ:PCAR opened at $130.79 on Monday. The firm has a market cap of $68.84 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The stock has a fifty day moving average price of $125.32 and a 200 day moving average price of $121.66. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the business earned $1.37 EPS. PACCAR’s revenue was up .5% on a year-over-year basis. Sell-side analysts anticipate that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is 29.41%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company’s stock.

PACCAR Company Profile

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.