Global Retirement Partners LLC Buys Shares of 4,035 PACCAR Inc. $PCAR

Global Retirement Partners LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,035 shares of the company’s stock, valued at approximately $384,000.

Several other hedge funds have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its position in PACCAR by 53.8% in the 2nd 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. Bayforest Capital Ltd boosted its position in shares of 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 during the period. Accent Capital Management LLC bought a new position in PACCAR in the 1st quarter worth approximately $40,000. Hantz Financial Services Inc. increased its position in PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares during the period. Finally, Marshall & Sullivan Inc. WA bought a new stake in PACCAR during the 2nd quarter valued at $43,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PCAR shares. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Wells Fargo & Company assumed coverage on shares of PACCAR in a research note on Thursday, November 13th. They issued a “positive” rating and a $106.00 price target for the company. Finally, Truist Financial increased their price objective on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $106.54.

PACCAR Stock Up 0.4%

PCAR stock opened at $105.42 on Monday. The firm has a market cap of $55.37 billion, a PE ratio of 20.63, a P/E/G ratio of 4.11 and a beta of 0.95. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $98.33 and a 200 day simple moving average of $97.40.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.85 EPS. Equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is currently 25.83%.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.