Inspire Investing LLC Buys 4,027 Shares of PACCAR Inc (NASDAQ:PCAR)

Inspire Investing LLC increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 6.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,889 shares of the company’s stock after buying an additional 4,027 shares during the period. PACCAR comprises about 0.8% of Inspire Investing LLC’s holdings, making the stock its 13th biggest position. Inspire Investing LLC’s holdings in PACCAR were worth $7,297,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. YHB Investment Advisors Inc. bought a new position in shares of PACCAR during the 1st quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR in the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new position in PACCAR in the first quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its holdings in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Finally, Rise Advisors LLC bought a new stake in shares of PACCAR in the first quarter valued at $31,000. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 1.7 %

PCAR opened at $96.32 on Thursday. The firm has a market capitalization of $50.49 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 1.47 and a beta of 0.91. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company has a fifty day moving average price of $97.11 and a 200-day moving average price of $106.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. PACCAR’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PCAR shares. Deutsche Bank Aktiengesellschaft cut their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Truist Financial cut their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, Citigroup reduced their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus target price of $112.73.

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.