Proactive Wealth Strategies LLC Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Proactive Wealth Strategies LLC purchased a new stake in PACCAR Inc (NASDAQ:PCAR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,574 shares of the company’s stock, valued at approximately $254,000.

Other large investors have also made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR in the 1st quarter valued at approximately $27,000. Quarry LP bought a new stake in shares of PACCAR in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR in the 2nd quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC boosted its position in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 1.8 %

Shares of PCAR stock opened at $116.43 on Tuesday. PACCAR Inc has a 12 month low of $87.58 and a 12 month high of $125.50. The firm has a market cap of $61.04 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89. The stock has a 50 day moving average of $102.34 and a 200-day moving average of $102.61. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 earnings per share. On average, equities analysts predict that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. PACCAR’s payout ratio is 13.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PCAR shares. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI decreased their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. decreased their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $113.82.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. 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.