Pacific Sage Partners LLC Buys New Shares in PACCAR Inc. $PCAR

Pacific Sage Partners LLC bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,711 shares of the company’s stock, valued at approximately $926,000.

Several other large investors also recently bought and sold shares of the stock. Clearstead Trust LLC acquired a new stake in PACCAR in the 2nd quarter valued at about $106,000. Bridgewater Advisors Inc. purchased a new position in shares of PACCAR in the 2nd quarter valued at about $218,000. Everett Harris & Co. CA acquired a new position in shares of PACCAR during the second quarter worth about $1,241,000. Stack Financial Management Inc acquired a new position in shares of PACCAR during the second quarter worth about $24,757,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of PACCAR during the second quarter worth approximately $7,731,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 50,975 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at $35,745,928.75. This represents a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last ninety days. Company insiders own 1.99% of the company’s stock.

PACCAR Trading Up 0.1%

PCAR opened at $130.79 on Friday. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24. The company has a market cap of $68.84 billion, a P/E ratio of 27.48, a PEG ratio of 1.04 and a beta of 0.97. 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 business’s 50-day simple moving average is $125.32 and its 200-day simple moving average is $121.66.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.37 EPS. As a group, equities research analysts expect that PACCAR Inc. will post 5.85 EPS for the current fiscal year.

PACCAR Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PCAR shares. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Truist Financial boosted their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company boosted their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Morgan Stanley set a $119.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Citigroup raised their price objective on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $131.70.

PACCAR Company 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.