Allworth Financial LP Acquires 4,598 Shares of PACCAR Inc. $PCAR

Allworth Financial LP lifted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 154.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,566 shares of the company’s stock after acquiring an additional 4,598 shares during the period. Allworth Financial LP’s holdings in PACCAR were worth $719,000 as of its most recent filing with the SEC.

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

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $95.59 on Friday. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The company has a market cap of $50.20 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 4.11 and a beta of 0.95. The firm has a 50 day simple moving average of $98.22 and a 200 day simple moving average of $96.69.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) 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 company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the company posted $1.85 earnings per share. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. Research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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 given a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is currently 25.83%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on PACCAR in a report on Thursday. They set a “positive” rating and a $106.00 target price on the stock. 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 report on Wednesday, October 22nd. Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. UBS Group set a $103.00 price target on shares of PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $106.54.

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.