Bogart Wealth LLC Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Bogart Wealth LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 21.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,098 shares of the company’s stock after acquiring an additional 24,938 shares during the period. Bogart Wealth LLC’s holdings in PACCAR were worth $13,825,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PCAR. Miracle Mile Advisors LLC increased its holdings in shares of PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after purchasing an additional 91 shares during the last quarter. Security National Bank raised its holdings in shares of PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after acquiring an additional 93 shares during the period. Brookstone Capital Management boosted its position in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after acquiring an additional 94 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares during the period. Finally, Graypoint LLC increased its position in PACCAR by 2.9% during the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock worth $441,000 after purchasing an additional 99 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. Citigroup raised their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial boosted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday. Morgan Stanley dropped their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Raymond James initiated coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $114.18.

PACCAR Stock Up 0.4 %

NASDAQ:PCAR traded up $0.46 during mid-day trading on Thursday, hitting $104.26. The stock had a trading volume of 416,541 shares, compared to its average volume of 2,634,586. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The stock has a 50-day simple moving average of $98.98 and a two-hundred day simple moving average of $103.41. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $54.66 billion, a PE ratio of 11.00, a PEG ratio of 1.70 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 earnings per share. On average, equities research analysts anticipate that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.15%. PACCAR’s dividend payout ratio is currently 12.71%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.02% of the stock is owned by corporate insiders.

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.