United Capital Financial Advisors LLC Buys Shares of 23,605 PACCAR Inc. $PCAR

United Capital Financial Advisors LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,605 shares of the company’s stock, valued at approximately $2,835,000.

A number of other institutional investors and hedge funds have also modified their holdings of PCAR. Hamilton Capital LLC purchased a new position in PACCAR in the 2nd quarter valued at approximately $525,000. Equitable Holdings Inc. acquired a new stake in PACCAR in the second quarter valued at $454,000. Public Employees Retirement System of Ohio purchased a new position in shares of PACCAR in the second quarter valued at $25,017,000. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of PACCAR during the 2nd quarter worth $255,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of PACCAR during the 2nd quarter worth $245,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 0.9%

Shares of PCAR opened at $125.34 on Friday. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The company has a market capitalization of $65.97 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The stock has a fifty day moving average of $127.35 and a two-hundred day moving average of $121.93. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 earnings per share. As a group, analysts forecast that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

The company 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s payout ratio is 29.41%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 50,975 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the sale, the chief executive officer directly owned 268,625 shares in the company, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,842 shares of company stock worth $7,565,677 over the last 90 days. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PCAR. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Truist Financial upped their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Morgan Stanley set a $119.00 price objective on PACCAR in a research report on Wednesday, July 29th. Finally, Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $131.70.

PACCAR Company Profile

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.