Vest Financial LLC Boosts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Vest Financial LLC lifted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 31.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 272,721 shares of the company's stock after purchasing an additional 65,638 shares during the quarter. Vest Financial LLC owned about 0.05% of PACCAR worth $26,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sander Capital Advisors Inc. acquired a new stake in shares of PACCAR during the 3rd quarter worth approximately $50,000. Raymond James & Associates increased its stake in PACCAR by 15.2% during the third quarter. Raymond James & Associates now owns 195,504 shares of the company's stock worth $19,292,000 after acquiring an additional 25,867 shares during the last quarter. Blue Trust Inc. raised its position in PACCAR by 172.6% in the third quarter. Blue Trust Inc. now owns 3,816 shares of the company's stock valued at $393,000 after purchasing an additional 2,416 shares during the period. Net Worth Advisory Group acquired a new position in shares of PACCAR in the 3rd quarter valued at $1,531,000. Finally, Stratos Wealth Advisors LLC increased its position in shares of PACCAR by 3.8% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,245 shares of the company's stock worth $419,000 after purchasing an additional 155 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Up 2.4 %

Shares of PCAR traded up $2.53 during midday trading on Friday, reaching $110.09. The stock had a trading volume of 2,997,492 shares, compared to its average volume of 2,493,526. The company has a market cap of $57.71 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.68 and a beta of 0.91. The company's fifty day simple moving average is $98.19 and its two-hundred day simple moving average is $103.61. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The firm's quarterly revenue was down 2.1% on a year-over-year basis. Equities research analysts expect that PACCAR Inc will post 8.06 earnings per share for the current year.

PACCAR Announces Dividend

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 of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.09%. PACCAR's dividend payout ratio is currently 12.71%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PCAR. Truist Financial decreased their target price on shares of PACCAR from $107.00 to $103.00 and set a "hold" rating on the stock in a research report on Wednesday, October 9th. Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They issued a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. Citigroup lifted their price objective on PACCAR from $100.00 to $108.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their target price on PACCAR from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $114.00.

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.