SteelPeak Wealth LLC Has $2.01 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

SteelPeak Wealth LLC raised its stake in PACCAR Inc (NASDAQ:PCAR) by 10.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,326 shares of the company’s stock after acquiring an additional 1,967 shares during the period. SteelPeak Wealth LLC’s holdings in PACCAR were worth $2,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in shares of PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares during the last quarter. BDF Gestion bought a new position in shares of PACCAR in the 2nd quarter valued at $2,862,000. Advisory Services Network LLC increased its stake in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after purchasing an additional 7,678 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PACCAR by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after purchasing an additional 105,109 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of PACCAR in the 1st quarter valued at $1,359,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,124 shares of company stock valued at $3,543,740 in the last ninety days. 2.02% of the stock is owned by company insiders.

PACCAR Trading Down 1.7 %

NASDAQ PCAR opened at $104.90 on Thursday. The business’s 50-day moving average price is $100.01 and its two-hundred day moving average price is $102.94. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The firm has a market capitalization of $54.99 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.65 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. On average, analysts expect that PACCAR Inc will post 8 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is 13.41%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PCAR shares. Evercore ISI decreased their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup boosted their price objective on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective 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 upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus target price of $114.18.

PACCAR 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.