Caprock Group LLC Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Caprock Group LLC grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 18.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,728 shares of the company’s stock after acquiring an additional 3,835 shares during the period. Caprock Group LLC’s holdings in PACCAR were worth $2,440,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PCAR. Security National Bank increased its position in PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after purchasing an additional 93 shares during the period. Brookstone Capital Management increased its position in shares of PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after buying an additional 94 shares during the period. CVA Family Office LLC raised its stake in PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after buying an additional 97 shares in the last quarter. Omnia Family Wealth LLC lifted its holdings in PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after buying an additional 98 shares during the period. Finally, Grove Bank & Trust grew its holdings in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.3 %

PACCAR stock opened at $110.38 on Wednesday. The firm has a market cap of $57.87 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.76 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a fifty day simple moving average of $104.69 and a two-hundred day simple moving average of $102.85.

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

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is 13.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PCAR shares. Citigroup raised their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Truist Financial boosted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $116.55.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were 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 directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. 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.