Global Retirement Partners LLC Acquires New Holdings in PACCAR Inc. $PCAR

Global Retirement Partners LLC bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, Holdings Channel.com reports. The fund bought 13,805 shares of the company’s stock, valued at approximately $1,658,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of PACCAR by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after purchasing an additional 5,327 shares in the last quarter. Ieq Capital LLC boosted its position in shares of PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after purchasing an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in PACCAR during the 2nd quarter worth $81,000. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,842 shares of company stock worth $7,565,677 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $130.84 on Tuesday. The business has a fifty day moving average of $125.57 and a 200 day moving average of $121.73. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $139.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The firm has a market capitalization of $68.87 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

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

PACCAR Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently issued reports on PCAR. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Truist Financial upped their price objective on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Citigroup lifted their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $131.70.

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.