Great Valley Advisor Group Inc. Buys 17,013 Shares of PACCAR Inc (NASDAQ:PCAR)

Great Valley Advisor Group Inc. lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 65.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,928 shares of the company’s stock after buying an additional 17,013 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in PACCAR were worth $4,236,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. BDF Gestion bought a new stake in shares of PACCAR during the second quarter worth approximately $2,862,000. Mengis Capital Management Inc. boosted its stake in PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after purchasing an additional 5,433 shares during the period. Virtu Financial LLC acquired a new position in PACCAR in the 1st quarter valued at $1,359,000. Comerica Bank increased its position in PACCAR by 8.7% during the 1st quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after buying an additional 13,075 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in PACCAR by 28.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after buying an additional 5,437 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction that occurred on 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 represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The stock was 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 represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCAR. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial increased their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $117.64.

PACCAR Trading Up 0.6 %

Shares of PCAR opened at $114.75 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The firm has a market cap of $60.16 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.79 and a beta of 0.89. The business’s fifty day moving average is $105.77 and its 200-day moving average is $103.02.

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 firm had revenue of $8.24 billion during 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 quarter in the prior year, the business earned $2.34 earnings per share. Equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. PACCAR’s payout ratio is presently 13.41%.

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.