IHT Wealth Management LLC Makes New $297,000 Investment in PACCAR Inc (NASDAQ:PCAR)

IHT Wealth Management LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,013 shares of the company’s stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. Security National Bank lifted its stake in PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after purchasing an additional 93 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares during the last quarter. CVA Family Office LLC boosted its position in PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC boosted its position in PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after buying an additional 98 shares during the period. Finally, Grove Bank & Trust boosted its position in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday. Morgan Stanley lowered their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, PACCAR presently has an average rating of “Hold” and an average target price of $118.25.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated 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 directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

Shares of PCAR stock opened at $114.83 on Tuesday. The firm has a market capitalization of $60.21 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The firm has a fifty day simple moving average of $109.82 and a two-hundred day simple moving average of $103.70. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (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 firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. Analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were paid a $0.30 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. PACCAR’s payout ratio is 13.41%.

PACCAR Company 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.