Sage Mountain Advisors LLC Buys 341 Shares of PACCAR Inc (NASDAQ:PCAR)

Sage Mountain Advisors LLC grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,190 shares of the company’s stock after purchasing an additional 341 shares during the period. Sage Mountain Advisors LLC’s holdings in PACCAR were worth $225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PCAR. Miracle Mile Advisors LLC grew its stake 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 grew its position in shares of PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after buying an additional 93 shares during the period. Brookstone Capital Management grew its position in shares of PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after buying an additional 94 shares during the period. Morningstar Investment Management LLC increased its stake in shares of PACCAR by 1.3% in the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after acquiring an additional 97 shares in the last quarter. Finally, Graypoint LLC lifted its position in PACCAR by 2.9% during the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR traded up $1.53 during trading hours on Friday, hitting $96.18. The company’s stock had a trading volume of 2,352,432 shares, compared to its average volume of 2,518,820. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company’s 50 day simple moving average is $99.10 and its two-hundred day simple moving average is $107.67. 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 company has a market cap of $50.41 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly 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 company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 earnings per share. As a group, sell-side analysts expect that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. PACCAR’s dividend payout ratio is presently 12.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCAR. JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Citigroup cut their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial cut their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $112.73.

Insider Activity

In related 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 completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.