Family Firm Inc. Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Family Firm Inc. acquired a new position in PACCAR Inc (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 556 shares of the company’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCAR. Norges Bank purchased a new stake in PACCAR during the fourth quarter worth $448,288,000. Capital International Investors boosted its stake in shares of PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. TD Asset Management Inc grew its position in shares of PACCAR by 112.2% during the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after acquiring an additional 1,095,894 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of PACCAR in the 4th quarter valued at about $87,441,000. Finally, Epoch Investment Partners Inc. raised its holdings in PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after purchasing an additional 562,571 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred 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 directly owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $96.46 on Friday. 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 cap of $50.56 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 1.47 and a beta of 0.92. The stock’s 50-day moving average is $100.31 and its two-hundred day moving average is $108.04. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 earnings per share. Analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Raymond James initiated coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial dropped their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. 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 report on Monday, August 12th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI cut their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Eight investment 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 has an average rating of “Hold” and an average target price of $112.73.

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.