Forum Financial Management LP Acquires 735 Shares of PACCAR Inc. (NASDAQ:PCAR)

Forum Financial Management LP increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,596 shares of the company’s stock after purchasing an additional 735 shares during the period. Forum Financial Management LP’s holdings in PACCAR were worth $1,032,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after acquiring an additional 240 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR in the 1st quarter valued at about $29,000. Sunbelt Securities Inc. increased its holdings in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in shares of PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after acquiring an additional 174 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PCAR shares. Royal Bank Of Canada dropped their price target on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Evercore ISI decreased their target price on PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. Truist Financial cut their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut PACCAR from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.59.

Insider Activity

In related news, Director Pierre R. Breber acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director owned 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is owned by company insiders.

PACCAR Stock Down 1.4%

Shares of NASDAQ PCAR opened at $94.05 on Friday. The stock has a market cap of $49.37 billion, a P/E ratio of 14.25, a PEG ratio of 3.52 and a beta of 0.94. The business’s fifty day simple moving average is $94.65 and its 200-day simple moving average is $98.65. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period last year, the firm earned $2.27 EPS. PACCAR’s revenue was down 16.0% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.40%. PACCAR’s payout ratio is currently 20.00%.

About PACCAR

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.