Sheaff Brock Investment Advisors LLC Purchases New Shares in PACCAR Inc (NASDAQ:PCAR)

Sheaff Brock Investment Advisors LLC purchased a new stake in PACCAR Inc (NASDAQ:PCAR) during the first quarter, Holdings Channel reports. The institutional investor purchased 6,900 shares of the company’s stock, valued at approximately $855,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC grew its stake in PACCAR by 3.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after acquiring an additional 91 shares during the period. Morningstar Investment Management LLC lifted its holdings in PACCAR by 1.3% in the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after purchasing an additional 97 shares in the last quarter. Graypoint LLC lifted its holdings in PACCAR by 2.9% in the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after purchasing an additional 99 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in PACCAR by 3.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after purchasing an additional 100 shares in the last quarter. Finally, Evanson Asset Management LLC lifted its holdings in PACCAR by 3.5% in the 1st quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock valued at $400,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial reduced their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday. Raymond James started coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $112.25.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Up 1.7 %

NASDAQ PCAR traded up $1.64 during trading on Friday, hitting $99.24. The stock had a trading volume of 3,091,675 shares, compared to its average volume of 2,635,081. The company has a market capitalization of $52.02 billion, a PE ratio of 10.29, a PEG ratio of 1.20 and a beta of 0.92. The company has a quick ratio of 2.49, a current ratio of 1.81 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average price of $105.46 and a 200 day moving average price of $108.49. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 earnings per share. As a group, equities research analysts forecast that PACCAR Inc will post 8.22 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is presently 12.45%.

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.