Assetmark Inc. Grows Position in PACCAR Inc (NASDAQ:PCAR)

Assetmark Inc. lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 338,568 shares of the company’s stock after purchasing an additional 6,180 shares during the quarter. Assetmark Inc. owned about 0.06% of PACCAR worth $33,410,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the 1st quarter worth $27,000. Quarry LP purchased a new position in PACCAR during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. boosted its holdings in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in PACCAR during the 2nd quarter valued at about $36,000. Finally, Fortitude Family Office LLC boosted its holdings in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after acquiring an additional 244 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

PCAR stock opened at $114.38 on Friday. The business has a 50 day moving average price of $101.94 and a 200 day moving average price of $102.74. The stock has a market cap of $59.97 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.81 and a beta of 0.89. PACCAR Inc has a fifty-two week low of $85.77 and a fifty-two week high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 earnings per share. Equities research analysts anticipate that PACCAR Inc will post 8 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PCAR shares. Truist Financial raised their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $113.82.

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.