W1M Asset Management Ltd Purchases Shares of 88,401 PACCAR Inc. $PCAR

W1M Asset Management Ltd purchased a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, HoldingsChannel reports. The firm purchased 88,401 shares of the company’s stock, valued at approximately $10,616,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Deseret Mutual Benefit Administrators raised its position in shares of PACCAR by 9.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after acquiring an additional 80 shares during the period. Gulf International Bank UK Ltd raised its holdings in PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC raised its holdings in PACCAR by 6.2% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after purchasing an additional 87 shares during the period. Parkside Financial Bank & Trust boosted its position in PACCAR by 3.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock worth $317,000 after purchasing an additional 87 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in 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 purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 1.6%

Shares of PCAR stock opened at $131.03 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 debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The stock’s fifty day moving average is $126.48 and its two-hundred day moving average is $121.90. The firm has a market capitalization of $68.97 billion, a P/E ratio of 27.53, a PEG ratio of 1.03 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Research analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on PCAR. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley set a $119.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Evercore set a $139.00 price target on shares of 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $131.70.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president directly owned 3,831 shares of the company’s stock, valued at $512,970.90. This trade represents a 43.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 value 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 in the last quarter. Insiders own 1.99% of the company’s stock.

About PACCAR

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.