Pacific Sage Partners LLC Acquires Shares of 7,711 PACCAR Inc. $PCAR

Pacific Sage Partners LLC acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 7,711 shares of the company’s stock, valued at approximately $926,000.

Other institutional investors have also modified their holdings of the company. Ares Financial Consulting LLC acquired a new stake in PACCAR during the 4th quarter worth $27,000. MCF Advisors LLC raised its holdings in shares of PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the last quarter. Steph & Co. acquired a new stake in shares of PACCAR during the first quarter worth about $29,000. Elyxium Wealth LLC acquired a new stake in shares of PACCAR during the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of PACCAR during the third quarter worth about $32,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup upped their price objective on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Sanford C. Bernstein restated an “outperform” rating and set a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Truist Financial increased their price target on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average target price of $131.70.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company’s stock.

PACCAR Trading Up 0.1%

Shares of PACCAR stock opened at $130.79 on Friday. The firm has a market cap of $68.84 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The company’s 50-day simple moving average is $125.32 and its 200-day simple moving average is $121.66. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS 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 during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Announces Dividend

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

PACCAR 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.