PACCAR Inc (NASDAQ:PCAR) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC raised its position in PACCAR Inc (NASDAQ:PCAR) by 33.7% during the second quarter, Holdings Channel reports. The firm owned 3,887 shares of the company’s stock after buying an additional 980 shares during the quarter. AE Wealth Management LLC’s holdings in PACCAR were worth $400,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PCAR. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR during the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new position in PACCAR in the 1st quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in shares of PACCAR in the first quarter worth $31,000. Finally, Meeder Asset Management Inc. increased its position in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PCAR. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Citigroup decreased their price target 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. Finally, Evercore ISI dropped their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $112.73.

PACCAR Trading Down 0.3 %

NASDAQ PCAR opened at $97.81 on Friday. The firm’s fifty day moving average price is $96.42 and its 200 day moving average price is $105.81. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market capitalization of $51.27 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 1.53 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (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 firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the previous year, the business posted $2.33 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

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.