Leeward Financial Partners LLC Takes Position in PACCAR Inc. $PCAR

Leeward Financial Partners LLC purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 4,996 shares of the company’s stock, valued at approximately $600,000.

A number of other hedge funds have also recently added to or reduced their stakes in PCAR. Brighton Jones LLC increased its holdings in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after buying an additional 290 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after acquiring an additional 5,327 shares in the last quarter. Ieq Capital LLC grew its position in shares of PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after acquiring an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of PACCAR during the 2nd quarter valued at about $81,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Up 0.1%

PCAR opened at $130.79 on Friday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $125.32 and a 200 day moving average price of $121.66. The company has a market cap of $68.84 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the company posted $1.37 EPS. PACCAR’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is presently 29.41%.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Citigroup raised their price objective on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Sanford C. Bernstein restated an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Truist Financial upped their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $131.70.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by insiders.

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.