Envestnet Asset Management Inc. Acquires 7,599 Shares of PACCAR Inc (NASDAQ:PCAR)

Envestnet Asset Management Inc. lifted its stake in PACCAR Inc (NASDAQ:PCARFree Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,630 shares of the company’s stock after purchasing an additional 7,599 shares during the period. Envestnet Asset Management Inc. owned 0.11% of PACCAR worth $54,648,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. AdvisorNet Financial Inc lifted its holdings in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in PACCAR in the 4th quarter worth approximately $37,000. ORG Partners LLC boosted its stake in PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after purchasing an additional 372 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in PACCAR during the 4th quarter valued at approximately $39,000. Finally, Mendota Financial Group LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $44,000. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PCAR. JPMorgan Chase & Co. reduced their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI increased their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. The Goldman Sachs Group upped their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Truist Financial reissued a “hold” rating and set a $121.00 price objective (up from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.62.

Read Our Latest Report on PCAR

PACCAR Stock Down 0.2 %

NASDAQ:PCAR opened at $107.43 on Tuesday. The company has a market cap of $56.31 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94. PACCAR Inc has a twelve month low of $76.35 and a twelve month high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $111.02 and a 200-day simple moving average of $106.57.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 EPS. Analysts anticipate that PACCAR Inc will post 8.36 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were issued a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. PACCAR’s payout ratio is presently 12.45%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock valued at $4,779,241 over the last quarter. 2.02% of the stock is owned by corporate insiders.

About PACCAR

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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