United Capital Financial Advisors LLC Takes $2.83 Million Position in PACCAR Inc. $PCAR

United Capital Financial Advisors LLC bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,605 shares of the company’s stock, valued at approximately $2,835,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators raised its position in shares of PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of PACCAR by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after buying an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC raised its holdings in PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after acquiring an additional 87 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after acquiring an additional 87 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PCAR shares. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Citigroup upped their price objective on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley set a $119.00 target price on PACCAR in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $131.70.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at $184,307.50. This represents a 58.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,842 shares of company stock valued at $7,565,677 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

PACCAR Price Performance

PCAR opened at $125.34 on Friday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $127.35 and its 200 day moving average price is $121.93. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The firm has a market cap of $65.97 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.PACCAR’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. As a group, sell-side analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is currently 29.41%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.