Optas LLC Acquires Shares of 1,940 PACCAR Inc (NASDAQ:PCAR)

Optas LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,940 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Founders Financial Securities LLC acquired a new position in PACCAR in the first quarter worth about $748,000. OneAscent Wealth Management LLC bought a new stake in shares of PACCAR in the 1st quarter valued at approximately $225,000. Indiana Trust & Investment Management CO raised its position in shares of PACCAR by 337.9% during the 1st quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock valued at $67,000 after acquiring an additional 419 shares in the last quarter. Hennessy Advisors Inc. bought a new position in PACCAR during the first quarter worth $3,605,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in PACCAR during the first quarter valued at $213,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Down 1.0 %

Shares of PCAR traded down $1.03 during midday trading on Friday, hitting $102.94. The stock had a trading volume of 11,403,453 shares, compared to its average volume of 2,603,300. PACCAR Inc has a fifty-two week low of $80.64 and a fifty-two week high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The firm has a market cap of $53.96 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. The business has a 50-day simple moving average of $107.60 and a two-hundred day simple moving average of $107.77.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the prior year, the company earned $2.25 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that PACCAR Inc will post 8.35 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Insider Buying and Selling at PACCAR

In other news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock worth $4,779,241 over the last ninety days. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on PCAR shares. Truist Financial reaffirmed a “hold” rating and issued a $121.00 price target (up from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Raymond James assumed coverage on PACCAR in a research report on Friday. They set a “market perform” rating for the company. StockNews.com downgraded PACCAR from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup initiated coverage on PACCAR in a research note on Wednesday. They issued a “neutral” rating and a $115.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $114.38.

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.