JT Stratford LLC Makes New $1.30 Million Investment in PACCAR Inc. $PCAR

JT Stratford LLC acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, HoldingsChannel reports. The fund acquired 13,684 shares of the company’s stock, valued at approximately $1,301,000.

Several other institutional investors also recently modified their holdings of the company. Hazlett Burt & Watson Inc. grew its holdings in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Fidelis Capital Partners LLC lifted its position in shares of PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after buying an additional 105 shares during the last quarter. Intellectus Partners LLC lifted its position in shares of PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after buying an additional 109 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its stake in shares of PACCAR by 1.2% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after acquiring an additional 116 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of PACCAR by 43.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after acquiring an additional 134 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCAR. Truist Financial raised their price target on PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Zacks Research downgraded shares of PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus target price of $106.54.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

Shares of PACCAR stock opened at $105.89 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market cap of $55.61 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The company has a 50 day moving average of $98.63 and a 200-day moving average of $97.53. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the business earned $1.85 earnings per share. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. PACCAR’s payout ratio is 25.83%.

About PACCAR

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.