Commerce Bank Takes Position in PACCAR Inc. $PCAR

Commerce Bank purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel.com reports. The fund purchased 25,452 shares of the company’s stock, valued at approximately $3,057,000.

Several other hedge funds have also made changes to their positions in the stock. Paladin Partners LLC acquired a new position in PACCAR during the 2nd quarter valued at approximately $27,000. Ares Financial Consulting LLC bought a new stake in PACCAR in the fourth quarter valued at $27,000. Steph & Co. bought a new stake in PACCAR in the first quarter valued at $29,000. MCF Advisors LLC boosted its holdings in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares during the period. Finally, Elyxium Wealth LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $30,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PCAR shares. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Citigroup upped their target price 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. Truist Financial upped their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus target price of $131.70.

PACCAR Trading Down 0.8%

Shares of PCAR stock opened at $129.94 on Tuesday. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $139.24. The firm has a market capitalization of $68.40 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. The stock has a fifty day moving average of $126.66 and a two-hundred day moving average of $121.89. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $7.05 billion. During the same period last year, the company earned $1.37 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

The business 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is currently 29.41%.

Insider Activity at PACCAR

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the transaction, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the 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 completion of the transaction, the chief financial officer owned 1,391 shares of the company’s stock, valued at $184,307.50. This trade represents a 58.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is currently owned by corporate insiders.

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.