Grunden Financial Advisory Inc. Acquires New Holdings in PACCAR Inc. $PCAR

Grunden Financial Advisory Inc. acquired a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,262 shares of the company’s stock, valued at approximately $405,000. PACCAR makes up about 0.2% of Grunden Financial Advisory Inc.’s portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cidel Asset Management Inc. lifted its stake in shares of PACCAR by 7.9% in the second quarter. Cidel Asset Management Inc. now owns 3,424 shares of the company’s stock worth $325,000 after buying an additional 252 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of PACCAR in the second quarter worth $83,658,000. Foster & Motley Inc. lifted its stake in shares of PACCAR by 2.3% in the second quarter. Foster & Motley Inc. now owns 81,747 shares of the company’s stock worth $7,771,000 after buying an additional 1,829 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in shares of PACCAR by 0.7% in the second quarter. Chevy Chase Trust Holdings LLC now owns 279,131 shares of the company’s stock worth $26,534,000 after buying an additional 2,076 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of PACCAR by 55.8% in the second quarter. Stratos Wealth Partners LTD. now owns 4,620 shares of the company’s stock worth $439,000 after buying an additional 1,654 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 0.5%

Shares of PCAR stock opened at $94.69 on Monday. The firm has a market capitalization of $49.72 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $98.48 and its 200 day simple moving average is $95.43. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s payout ratio is currently 22.60%.

Insider Activity

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PCAR shares. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $97.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Truist Financial set a $97.00 target price on shares of PACCAR and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PACCAR in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.14.

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.