CW Advisors LLC Buys Shares of 29,389 PACCAR Inc. $PCAR

CW Advisors LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,389 shares of the company’s stock, valued at approximately $2,794,000.

Several other institutional investors have also made changes to their positions in PCAR. Wellington Management Group LLP lifted its position in PACCAR by 20.1% in the 1st 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. Geode Capital Management LLC increased its stake in shares of PACCAR by 1.3% in the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after acquiring an additional 159,632 shares during the last quarter. Northern Trust Corp increased its stake in shares of PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after acquiring an additional 37,609 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 1.6% during the first 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in PACCAR by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Up 1.7%

NASDAQ:PCAR opened at $110.33 on Friday. The company’s 50 day moving average is $99.32 and its 200-day moving average is $97.78. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $117.00. The firm has a market cap of $57.95 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 15.09 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $7.24 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 business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.85 earnings per share. Equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s payout ratio is presently 25.83%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Zacks Research lowered PACCAR from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. increased their price objective on PACCAR from $103.00 to $108.00 and gave the stock 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 note on Saturday, October 25th. Truist Financial boosted their target price on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.96.

Insider Activity at PACCAR

In related 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 completion of the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.02% of the company’s stock.

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.