Independent Financial Group LLC Invests $447,000 in PACCAR Inc. $PCAR

Independent Financial Group LLC purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) in the first quarter, HoldingsChannel reports. The firm purchased 3,871 shares of the company’s stock, valued at approximately $447,000.

Several other institutional investors have also made changes to their positions in the stock. Ares Financial Consulting LLC bought a new position in PACCAR during the 4th quarter worth $27,000. MCF Advisors LLC lifted its position in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares during the period. Steph & Co. acquired a new stake in shares of PACCAR during the 1st quarter worth $29,000. Elyxium Wealth LLC acquired a new stake in shares of PACCAR during the 4th quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of PACCAR in the third quarter worth $32,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on PCAR shares. Citigroup reaffirmed a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. BNP Paribas Exane initiated coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $124.18.

PACCAR Stock Performance

Shares of PCAR stock opened at $130.75 on Friday. The firm has a market capitalization of $68.81 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.20 and a beta of 0.97. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $118.56 and its 200-day moving average price is $120.16. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $133.49.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities research analysts forecast that PACCAR Inc. will post 5.66 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is 29.79%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.