Orion Portfolio Solutions LLC Acquires 16,571 Shares of PACCAR Inc (NASDAQ:PCAR)

Orion Portfolio Solutions LLC grew its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 30.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 71,443 shares of the company's stock after acquiring an additional 16,571 shares during the period. Orion Portfolio Solutions LLC's holdings in PACCAR were worth $7,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of PACCAR during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. raised its stake in PACCAR by 269.7% during the 2nd 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 period. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR during the 2nd quarter valued at $36,000. ORG Partners LLC raised its stake in PACCAR by 7,560.0% during the 2nd quarter. ORG Partners LLC now owns 383 shares of the company's stock valued at $39,000 after purchasing an additional 378 shares during the period. Finally, Grove Bank & Trust raised its stake in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley dropped their price target on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Truist Financial upped their price target 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. Citigroup upped their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, BNP Paribas raised shares of PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $118.25.

PACCAR Stock Performance

PCAR stock traded down $1.05 during mid-day trading on Monday, reaching $114.83. 1,841,085 shares of the stock traded hands, compared to its average volume of 2,587,491. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The business has a 50-day moving average of $109.82 and a two-hundred day moving average of $103.70. The firm has a market capitalization of $60.21 billion, a PE ratio of 12.83, a P/E/G ratio of 1.82 and a beta of 0.91.

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

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Wednesday, November 13th. PACCAR's payout ratio is presently 13.41%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now 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 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. 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.