Capital Wealth Planning LLC Has $5.10 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Capital Wealth Planning LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,510 shares of the company’s stock after buying an additional 440 shares during the quarter. Capital Wealth Planning LLC’s holdings in PACCAR were worth $5,097,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Plato Investment Management Ltd increased its position in shares of PACCAR by 1.8% in the second quarter. Plato Investment Management Ltd now owns 18,664 shares of the company’s stock worth $1,921,000 after purchasing an additional 338 shares during the period. Envestnet Asset Management Inc. increased its position in shares of PACCAR by 2.9% in the second quarter. Envestnet Asset Management Inc. now owns 580,887 shares of the company’s stock worth $59,796,000 after purchasing an additional 16,225 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of PACCAR by 54.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 78,236 shares of the company’s stock worth $8,054,000 after purchasing an additional 27,507 shares during the period. Federated Hermes Inc. grew its position in PACCAR by 69.2% in the second quarter. Federated Hermes Inc. now owns 15,767 shares of the company’s stock valued at $1,623,000 after acquiring an additional 6,448 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in PACCAR by 10.1% in the second quarter. GHP Investment Advisors Inc. now owns 53,788 shares of the company’s stock valued at $5,537,000 after acquiring an additional 4,916 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of a number of recent analyst reports. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Citigroup reduced their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $112.73.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $95.12 on Monday. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The stock’s 50 day moving average is $97.40 and its 200-day moving average is $106.63. The firm has a market capitalization of $49.86 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.46 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter last year, the company posted $2.33 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.26%. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Insider Buying and Selling

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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is currently owned by corporate insiders.

About PACCAR

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.