TD Private Client Wealth LLC Acquires 561 Shares of PACCAR Inc. $PCAR

TD Private Client Wealth LLC boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,230 shares of the company’s stock after acquiring an additional 561 shares during the quarter. TD Private Client Wealth LLC’s holdings in PACCAR were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Wellington Management Group LLP boosted its position in PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after buying an additional 3,379,165 shares in the last quarter. Pacer Advisors Inc. boosted its position in PACCAR by 2,957.4% in the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company’s stock valued at $205,469,000 after buying an additional 2,041,168 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in PACCAR by 177.9% in the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after buying an additional 1,677,736 shares in the last quarter. Jones Financial Companies Lllp boosted its position in PACCAR by 16,393.9% in the first quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock valued at $139,402,000 after buying an additional 1,422,992 shares in the last quarter. Finally, Nuveen LLC acquired a new position in PACCAR in the first quarter valued at about $125,566,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Up 5.2%

Shares of NASDAQ PCAR opened at $100.50 on Monday. The company’s 50 day simple moving average is $99.08 and its 200 day simple moving average is $95.64. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a market capitalization of $52.77 billion, a P/E ratio of 17.21, a P/E/G ratio of 4.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the business posted $2.13 earnings per share. PACCAR’s revenue was down 15.7% compared to the same quarter last year. On average, analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. 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 is presently 22.60%.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PCAR shares. Argus upgraded shares of 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. Truist Financial reduced their price target on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a research report on Wednesday, July 23rd. Citigroup boosted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, UBS Group upgraded shares of PACCAR from a “sell” rating to a “neutral” rating and upped their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.68.

PACCAR Company 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.