PACCAR Inc (NASDAQ:PCAR) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,485 shares of the company’s stock after purchasing an additional 1,249 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PACCAR were worth $7,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PCAR. BDF Gestion acquired a new stake in PACCAR in the second quarter worth $2,862,000. Mengis Capital Management Inc. boosted its stake in PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after purchasing an additional 5,433 shares during the period. Virtu Financial LLC bought a new position in PACCAR in the 1st quarter worth about $1,359,000. Comerica Bank increased its stake in shares of PACCAR by 8.7% in the first quarter. Comerica Bank now owns 162,864 shares of the company’s stock valued at $20,177,000 after purchasing an additional 13,075 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of PACCAR by 28.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after buying an additional 5,437 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. The trade was a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCAR. Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial increased their target price 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. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $116.55.

PACCAR Price Performance

NASDAQ PCAR opened at $115.06 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business’s fifty day moving average is $103.20 and its two-hundred day moving average is $102.75. The stock has a market capitalization of $60.33 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 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.