PACCAR Inc (NASDAQ:PCAR) Shares Bought by Insight Wealth Partners LLC

Insight Wealth Partners LLC raised its position in PACCAR Inc (NASDAQ:PCAR) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,700 shares of the company’s stock after buying an additional 104 shares during the quarter. Insight Wealth Partners LLC’s holdings in PACCAR were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Townsquare Capital LLC grew its holdings in shares of PACCAR by 36.1% during the third quarter. Townsquare Capital LLC now owns 11,133 shares of the company’s stock worth $1,099,000 after buying an additional 2,951 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in PACCAR during the 3rd quarter worth approximately $200,000. Brooklyn Investment Group grew its stake in shares of PACCAR by 10.8% in the 3rd quarter. Brooklyn Investment Group now owns 4,570 shares of the company’s stock valued at $451,000 after purchasing an additional 447 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of PACCAR by 0.4% in the third quarter. D.A. Davidson & CO. now owns 163,742 shares of the company’s stock valued at $16,158,000 after purchasing an additional 710 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of PACCAR by 8.3% during the third quarter. Hancock Whitney Corp now owns 6,304 shares of the company’s stock worth $622,000 after purchasing an additional 483 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $115.82 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a market capitalization of $60.72 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.83 and a beta of 0.89. The business has a 50-day moving average of $106.55 and a 200-day moving average of $103.09.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. On average, equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated 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 transaction, the vice president now owns 3,061 shares of the company’s stock, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 in the last three months. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial raised their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup increased their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.64.

PACCAR Company 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.