GAMMA Investing LLC Buys 1,174 Shares of PACCAR Inc (NASDAQ:PCAR)

GAMMA Investing LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 28.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,322 shares of the company’s stock after buying an additional 1,174 shares during the quarter. GAMMA Investing LLC’s holdings in PACCAR were worth $548,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in shares of PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after purchasing an additional 89,984 shares during the last quarter. Norges Bank bought a new position in PACCAR during the 4th quarter valued at about $448,288,000. Capital International Investors boosted its holdings in shares of PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PACCAR by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after acquiring an additional 54,273 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of PACCAR by 0.9% during the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after purchasing an additional 23,394 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Activity

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 value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 72,874 shares of company stock worth $7,526,457 over the last quarter. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR stock traded down $1.94 on Friday, hitting $94.36. 4,074,093 shares of the stock traded hands, compared to its average volume of 3,370,925. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 1.43. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The firm has a 50 day simple moving average of $104.27 and a two-hundred day simple moving average of $108.81. The firm has a market cap of $49.46 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.49 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. PACCAR’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 earnings per share. As a group, equities research analysts predict that PACCAR Inc will post 8.11 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Analyst Ratings Changes

PCAR has been the topic of several research reports. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group upped their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $114.27.

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.