AE Wealth Management LLC Has $2.92 Million Holdings in PACCAR Inc. $PCAR

AE Wealth Management LLC lifted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,662 shares of the company’s stock after purchasing an additional 3,077 shares during the quarter. AE Wealth Management LLC’s holdings in PACCAR were worth $2,915,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its position in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Bayforest Capital Ltd grew its holdings in shares of PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after acquiring an additional 274 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of PACCAR in the first quarter valued at about $40,000. Hantz Financial Services Inc. increased its position in shares of PACCAR by 43.8% in the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new stake in PACCAR during the second quarter worth about $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction on Monday, October 27th. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $98.98 on Tuesday. The stock has a market cap of $51.98 billion, a PE ratio of 19.37, a P/E/G ratio of 4.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. The firm has a 50-day moving average of $98.29 and a 200-day moving average of $96.56. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the company posted $1.85 EPS. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on PCAR. Vertical Research raised PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Truist Financial increased their price target on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Finally, Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $106.59.

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.