Sunpointe LLC Makes New $491,000 Investment in PACCAR Inc (NASDAQ:PCAR)

Sunpointe LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,979 shares of the company's stock, valued at approximately $491,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC lifted its position in PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company's stock worth $307,000 after purchasing an additional 91 shares during the period. Security National Bank raised its stake in shares of PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company's stock valued at $240,000 after buying an additional 93 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company's stock worth $258,000 after acquiring an additional 94 shares during the period. CVA Family Office LLC increased its stake in 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 acquiring an additional 97 shares during the period. Finally, Graypoint LLC raised its position in PACCAR by 2.9% in the first quarter. Graypoint LLC now owns 3,557 shares of the company's stock worth $441,000 after purchasing an additional 99 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial decreased their price objective on PACCAR from $107.00 to $103.00 and set a "hold" rating on the stock in a report on Wednesday, October 9th. Raymond James started coverage on PACCAR in a research report on Friday, June 28th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. StockNews.com raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PACCAR has an average rating of "Hold" and an average price target of $114.00.

PACCAR Trading Up 0.4 %

Shares of NASDAQ PCAR traded up $0.45 during mid-day trading on Wednesday, hitting $106.86. The company's stock had a trading volume of 88,456 shares, compared to its average volume of 2,603,853. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The stock has a market cap of $56.01 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The company's fifty day simple moving average is $97.25 and its 200-day simple moving average is $103.89. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts' consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR's revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 EPS. On average, sell-side analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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 is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. PACCAR's dividend payout ratio is 12.45%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.02% of the company's stock.

PACCAR 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.

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