PACCAR Inc. $PCAR Holdings Raised by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. lifted its stake in PACCAR Inc. (NASDAQ:PCAR) by 48.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,923 shares of the company’s stock after purchasing an additional 2,261 shares during the quarter. Turn8 Private Wealth Inc.’s holdings in PACCAR were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after buying an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares in the last quarter. Northern Trust Corp lifted its position in shares of PACCAR by 0.5% in the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock valued at $704,956,000 after acquiring an additional 37,609 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PACCAR by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after purchasing an additional 97,197 shares during the period. Finally, Invesco Ltd. grew its position in PACCAR by 4.4% during the 1st quarter. Invesco Ltd. now owns 4,965,976 shares of the company’s stock worth $483,537,000 after purchasing an additional 210,825 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of several recent analyst reports. Zacks Research downgraded shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Finally, Truist Financial lifted their target price on PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $106.59.

PACCAR Price Performance

PCAR opened at $98.02 on Wednesday. The stock has a fifty day moving average price of $98.28 and a 200 day moving average price of $96.61. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. Analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by company insiders.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.