Advisory Services Network LLC Raises Stake in PACCAR Inc. $PCAR

Advisory Services Network LLC increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 19.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,894 shares of the company’s stock after purchasing an additional 5,614 shares during the period. Advisory Services Network LLC’s holdings in PACCAR were worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. boosted its holdings in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after purchasing an additional 105 shares during the period. Intellectus Partners LLC boosted its position in PACCAR by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after acquiring an additional 109 shares during the period. Focus Partners Advisor Solutions LLC grew its position in PACCAR by 1.2% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock valued at $917,000 after buying an additional 116 shares in the last quarter. Finally, Hamilton Capital LLC raised its holdings in PACCAR by 3.4% during the second quarter. Hamilton Capital LLC now owns 4,052 shares of the company’s stock worth $385,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PCAR shares. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. UBS Group set a $103.00 price objective on shares of PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Morgan Stanley set a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.12.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the sale, the chief financial officer directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.7%

PCAR opened at $112.16 on Wednesday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $115.43. The firm has a 50-day moving average price of $101.18 and a two-hundred day moving average price of $98.67. The stock has a market capitalization of $58.91 billion, a PE ratio of 21.95, a PEG ratio of 15.45 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 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 return on equity of 16.01% and a net margin of 9.11%.PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 earnings per share. As a group, equities analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio is presently 25.83%.

About PACCAR

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.