Northwest Quadrant Wealth Management LLC cut its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,284 shares of the company’s stock after selling 134 shares during the quarter. Northwest Quadrant Wealth Management LLC’s holdings in PACCAR were worth $223,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in PCAR. Benjamin F. Edwards & Company Inc. boosted its stake in PACCAR by 6.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after purchasing an additional 95 shares during the period. IFP Advisors Inc boosted its stake in PACCAR by 91.1% in the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after purchasing an additional 890 shares during the period. State of Alaska Department of Revenue boosted its stake in PACCAR by 29.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after purchasing an additional 500 shares during the period. Perkins Coie Trust Co boosted its stake in PACCAR by 102.8% in the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after purchasing an additional 1,157 shares during the period. Finally, Cadinha & Co. LLC bought a new position in PACCAR in the 1st quarter worth approximately $202,000. Institutional investors own 62.12% of the company’s stock.
PCAR has been the subject of several recent analyst reports. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Robert W. Baird reaffirmed a “hold” rating and set a $67.00 price objective on shares of PACCAR in a report on Friday, September 1st. ValuEngine raised PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Finally, UBS AG set a $75.00 price objective on PACCAR and gave the stock a “buy” rating in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. PACCAR has a consensus rating of “Hold” and an average target price of $71.74.
In related news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the transaction, the insider now owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.64% of the stock is currently owned by company insiders.
Shares of PACCAR Inc. (NASDAQ PCAR) opened at 71.42 on Friday. PACCAR Inc. has a 1-year low of $53.38 and a 1-year high of $71.50. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 19.12 and a beta of 1.15. The firm has a 50-day moving average price of $66.39 and a 200-day moving average price of $66.14.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the business posted $1.06 EPS. PACCAR’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that PACCAR Inc. will post $4.00 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s payout ratio is currently 26.74%.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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