Net Worth Advisory Group Makes New $1.53 Million Investment in PACCAR Inc (NASDAQ:PCAR)

Net Worth Advisory Group bought a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 15,518 shares of the company's stock, valued at approximately $1,531,000.

A number of other hedge funds also recently bought and sold shares of the company. Quarry LP bought a new stake in PACCAR in the second quarter valued at approximately $26,000. New Covenant Trust Company N.A. bought a new stake in PACCAR in the first quarter valued at approximately $27,000. Riverview Trust Co bought a new stake in PACCAR in the first quarter valued at approximately $29,000. Meeder Asset Management Inc. lifted its position in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in PACCAR in the second quarter valued at approximately $36,000. Institutional investors own 64.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PCAR shares. StockNews.com raised PACCAR from a "hold" rating to a "buy" rating in a research note on Wednesday, July 24th. Truist Financial reduced their target price on PACCAR from $107.00 to $103.00 and set a "hold" rating on the stock in a research note on Wednesday, October 9th. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday. Evercore ISI reduced their target price on PACCAR from $109.00 to $99.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Finally, Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They set a "market perform" rating on the stock. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $114.00.

PACCAR Stock Up 2.4 %

PACCAR stock traded up $2.53 during mid-day trading on Friday, hitting $110.09. The company had a trading volume of 2,997,492 shares, compared to its average volume of 2,493,526. 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 stock's 50 day moving average price is $98.19 and its two-hundred day moving average price is $103.73. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a market capitalization of $57.71 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91.

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 the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period last year, the firm posted $2.33 earnings per share. The company's revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc will post 8.06 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, November 13th. PACCAR's payout ratio is currently 12.71%.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares of the company's stock, valued at $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.02% of the company's stock.

About PACCAR

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.