Sanctuary Advisors LLC Acquires 5,871 Shares of PACCAR Inc (NASDAQ:PCAR)

Sanctuary Advisors LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 24.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,016 shares of the company’s stock after acquiring an additional 5,871 shares during the period. Sanctuary Advisors LLC’s holdings in PACCAR were worth $2,962,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in PACCAR in the second quarter worth approximately $26,000. Meeder Asset Management Inc. raised its position in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR during the 2nd quarter valued at $36,000. Grove Bank & Trust raised its position in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the period. Finally, Sander Capital Advisors Inc. bought a new stake in shares of PACCAR during the 3rd quarter valued at $50,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. 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 decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup lifted their price target on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $118.25.

PACCAR Stock Down 0.6 %

NASDAQ:PCAR opened at $111.66 on Wednesday. The firm has a market capitalization of $58.54 billion, a P/E ratio of 12.48, a PEG ratio of 1.77 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company’s fifty day moving average price is $111.31 and its 200-day moving average price is $103.95. 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 (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. As a group, equities research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 over the last 90 days. 2.02% of the stock is currently owned by company insiders.

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.