Transamerica Financial Advisors Inc. Makes New $200,000 Investment in PACCAR Inc (NASDAQ:PCAR)

Transamerica Financial Advisors Inc. bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,019 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in PACCAR during the first quarter worth about $27,000. Quarry LP bought a new position in shares of PACCAR in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its position in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR in the second quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC boosted its position in shares of PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after acquiring an additional 244 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCAR. Truist Financial raised their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Citigroup lifted their target price on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $117.64.

PACCAR Stock Down 0.6 %

Shares of NASDAQ PCAR opened at $115.82 on Wednesday. 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 firm’s fifty day moving average is $106.55 and its 200 day moving average is $103.09. The company has a market cap of $60.72 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last issued its earnings results 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 net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

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.