PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 49.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,767 shares of the company’s stock after buying an additional 1,899 shares during the quarter. Venturi Wealth Management LLC’s holdings in PACCAR were worth $569,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after purchasing an additional 242,435 shares during the period. Capital International Investors raised its stake in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the period. Finally, National Pension Service grew its position in PACCAR by 4.3% in the 3rd quarter. National Pension Service now owns 1,639,539 shares of the company’s stock valued at $161,790,000 after buying an additional 68,064 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. 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. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Truist Financial raised their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus price target of $113.82.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $116.79 on Wednesday. PACCAR Inc has a one year low of $87.58 and a one year high of $125.50. The stock has a market cap of $61.23 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89. The business’s fifty day moving average price is $102.34 and its two-hundred day moving average price is $102.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was 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 of the company’s stock, valued at $17,782,251.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

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.