Advisory Services Network LLC Purchases 7,678 Shares of PACCAR Inc (NASDAQ:PCAR)

Advisory Services Network LLC increased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 56,051 shares of the company's stock after purchasing an additional 7,678 shares during the period. Advisory Services Network LLC's holdings in PACCAR were worth $6,944,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. PSI Advisors LLC purchased a new stake in shares of PACCAR in the first quarter valued at about $25,000. AdvisorNet Financial Inc raised its stake in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in PACCAR during the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR during the first quarter worth approximately $29,000. Finally, Rise Advisors LLC acquired a new stake in shares of PACCAR in the 1st quarter worth $31,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PCAR shares. Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 price target for the company. Raymond James started coverage on PACCAR in a report on Friday, June 28th. They issued a "market perform" rating on the stock. StockNews.com upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Monday. Truist Financial dropped their target price on shares of PACCAR from $121.00 to $115.00 and set a "hold" rating for the company in a research report on Tuesday, July 2nd. Finally, UBS Group raised shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.92.

PACCAR Price Performance

Shares of PCAR stock traded down $0.12 during midday trading on Friday, reaching $103.11. 1,936,385 shares of the company were exchanged, compared to its average volume of 2,512,858. The company's 50 day moving average price is $105.95 and its two-hundred day moving average price is $107.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The company has a market cap of $54.05 billion, a P/E ratio of 10.78, a PEG ratio of 1.21 and a beta of 0.92. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.25 EPS. On average, sell-side analysts expect that PACCAR Inc will post 8.37 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. PACCAR's dividend payout ratio is currently 12.45%.

Insider Buying and Selling

In other news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the company's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock worth $4,779,241 in the last ninety days. 2.02% of the stock is currently 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.