Rehmann Capital Advisory Group Invests $300,000 in PACCAR Inc (NASDAQ:PCAR)

Rehmann Capital Advisory Group bought a new position in PACCAR Inc (NASDAQ:PCARFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,424 shares of the company’s stock, valued at approximately $300,000.

Several other large investors have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S grew its holdings in PACCAR by 160.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 174,391 shares of the company’s stock worth $21,605,000 after acquiring an additional 107,345 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in PACCAR during the 1st quarter worth about $117,000. Absolute Capital Management LLC grew its holdings in PACCAR by 184.4% during the 1st quarter. Absolute Capital Management LLC now owns 9,100 shares of the company’s stock worth $1,127,000 after acquiring an additional 5,900 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in PACCAR by 1.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,892 shares of the company’s stock worth $854,000 after acquiring an additional 108 shares during the last quarter. Finally, Smart Money Group LLC bought a new stake in PACCAR during the 1st quarter worth about $517,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.0 %

Shares of NASDAQ:PCAR traded up $0.01 during midday trading on Wednesday, hitting $101.35. The stock had a trading volume of 1,084,685 shares, compared to its average volume of 2,516,568. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $106.11 and its 200-day simple moving average is $108.01. The company has a market cap of $53.12 billion, a P/E ratio of 10.58, a PEG ratio of 1.21 and a beta of 0.92.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the business posted $2.25 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR Inc will post 8.37 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. PACCAR’s dividend payout ratio is currently 12.45%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCAR. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Truist Financial reduced their target price on shares of PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, July 2nd. Citigroup began coverage on shares of PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 target price on the stock. Royal Bank of Canada began coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.92.

Check Out Our Latest Research Report on PCAR

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock worth $4,779,241 in the last quarter. 2.02% of the stock is owned by corporate insiders.

About PACCAR

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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