Solstein Capital LLC Increases Holdings in PACCAR Inc. $PCAR

Solstein Capital LLC raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,193 shares of the company’s stock after buying an additional 136 shares during the quarter. Solstein Capital LLC’s holdings in PACCAR were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. Hazlett Burt & Watson Inc. grew its position 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 buying an additional 100 shares in the last quarter. Bayforest Capital Ltd grew its position in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares in the last quarter. Accent Capital Management LLC purchased a new position in PACCAR during the first quarter worth about $40,000. Marshall & Sullivan Inc. WA purchased a new position in PACCAR during the second quarter worth about $43,000. Finally, N.E.W. Advisory Services LLC purchased a new position in PACCAR during the first quarter worth about $58,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.8%

NASDAQ PCAR opened at $100.13 on Monday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $98.52 and a 200-day moving average of $95.79. The firm has a market cap of $52.58 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the firm posted $1.85 EPS. The company’s revenue was down 20.7% on a year-over-year basis. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is 25.83%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCAR. Morgan Stanley set a $90.00 target price on PACCAR in a research report on Tuesday, October 21st. UBS Group set a $103.00 price target on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Finally, Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus target price of $106.59.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.02% of the company’s stock.

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.