Ashton Thomas Securities LLC Purchases Shares of 532 PACCAR Inc (NASDAQ:PCAR)

Ashton Thomas Securities LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 532 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds have also modified their holdings of PCAR. BDF Gestion acquired a new stake in shares of PACCAR during the second quarter valued at approximately $2,862,000. Virtu Financial LLC purchased a new stake in shares of PACCAR in the first quarter valued at $1,359,000. Comerica Bank boosted its position in shares of PACCAR by 8.7% in the first quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after buying an additional 13,075 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in PACCAR by 28.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after buying an additional 5,437 shares during the period. Finally, Cetera Investment Advisers lifted its stake in PACCAR by 371.8% in the 1st quarter. Cetera Investment Advisers now owns 44,311 shares of the company’s stock worth $5,490,000 after acquiring an additional 34,919 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PCAR shares. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a report on Wednesday. Truist Financial increased their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Citigroup upped their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $116.55.

PACCAR Trading Up 0.3 %

PACCAR stock opened at $116.80 on Thursday. PACCAR Inc has a 52 week low of $88.97 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The firm has a market capitalization of $61.24 billion, a PE ratio of 13.05, a PEG ratio of 1.83 and a beta of 0.89. The business’s 50-day simple moving average is $102.77 and its 200-day simple moving average is $102.65.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.34 earnings per share. Equities research analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. PACCAR’s payout ratio is 13.41%.

Insider Activity

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

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.