Parcion Private Wealth LLC Has $26.26 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Parcion Private Wealth LLC cut its position in PACCAR Inc (NASDAQ:PCAR) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,105 shares of the company’s stock after selling 972 shares during the period. PACCAR accounts for about 2.2% of Parcion Private Wealth LLC’s investment portfolio, making the stock its 11th biggest position. Parcion Private Wealth LLC’s holdings in PACCAR were worth $26,259,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of PACCAR in the second quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter valued at about $27,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR in the second quarter worth about $36,000. Finally, Fortitude Family Office LLC lifted its position in shares of PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCAR. Evercore ISI dropped their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup boosted their target price on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $114.18.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred 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 transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.02% of the stock is owned by insiders.

PACCAR Trading Up 1.0 %

PCAR opened at $105.90 on Friday. The firm’s fifty day moving average is $99.18 and its two-hundred day moving average is $103.42. The firm has a market cap of $55.51 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 1.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter last year, the business posted $2.34 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s dividend payout ratio is presently 12.45%.

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.