Atlantic Edge Private Wealth Management LLC Has $375,000 Stock Position in PACCAR Inc. $PCAR

Atlantic Edge Private Wealth Management LLC cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,941 shares of the company’s stock after selling 210 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in PACCAR were worth $375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted 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 last quarter. Applied Capital LLC FL boosted its holdings in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock worth $2,455,000 after purchasing an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company’s stock worth $4,390,000 after purchasing an additional 130 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in PACCAR by 5.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock worth $228,000 after purchasing an additional 130 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 174 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

NASDAQ PCAR opened at $97.48 on Tuesday. The company’s 50 day moving average is $98.48 and its 200-day moving average is $95.48. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The firm has a market cap of $51.19 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last posted 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. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. Sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday, July 28th. UBS Group raised shares of PACCAR from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Finally, Truist Financial set a $97.00 price objective on shares of PACCAR and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $108.14.

Insider Activity at PACCAR

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

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.