Aaron Wealth Advisors LLC Boosts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Aaron Wealth Advisors LLC grew its position in PACCAR Inc (NASDAQ:PCAR) by 72.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,128 shares of the company’s stock after acquiring an additional 2,150 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in PACCAR were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PCAR. Quarry LP purchased a new stake in shares of PACCAR during the second quarter worth $26,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR during the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter valued at approximately $29,000. Meeder Asset Management Inc. increased its holdings in shares of PACCAR by 269.7% in 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 last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in PACCAR during the second quarter worth approximately $36,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PCAR. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday. Raymond James began coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Evercore ISI dropped their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $114.00.

PACCAR Trading Up 2.4 %

NASDAQ PCAR opened at $110.09 on Friday. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a market capitalization of $57.71 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. 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 firm’s fifty day moving average price is $98.19 and its 200 day moving average price is $103.85.

PACCAR (NASDAQ:PCAR) last released its quarterly 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). The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.33 EPS. On average, sell-side analysts expect that PACCAR Inc will post 8.06 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.71%.

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.