Ashton Thomas Securities LLC Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Ashton Thomas Securities LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 532 shares of the company’s stock, valued at approximately $52,000.

Several other hedge funds also recently modified their holdings of PCAR. Bleakley Financial Group LLC increased its stake in shares of PACCAR by 2.6% in the first quarter. Bleakley Financial Group LLC now owns 8,749 shares of the company’s stock valued at $1,084,000 after buying an additional 222 shares in the last quarter. Delta Investment Management LLC bought a new stake in PACCAR during the 1st quarter worth about $226,000. Kingsview Wealth Management LLC increased its position in PACCAR by 13.0% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,641 shares of the company’s stock valued at $451,000 after acquiring an additional 418 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after acquiring an additional 531,794 shares during the last quarter. Finally, Twin Tree Management LP lifted its position in shares of PACCAR by 134.5% during the first quarter. Twin Tree Management LP now owns 197,001 shares of the company’s stock worth $24,406,000 after purchasing an additional 112,976 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on PCAR shares. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Citigroup boosted their price target on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial increased their target price on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $116.55.

PACCAR Stock Performance

PCAR opened at $116.80 on Thursday. The business’s 50-day simple moving average is $102.77 and its 200 day simple moving average is $102.65. PACCAR Inc has a 52-week low of $88.97 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The firm has a market capitalization of $61.24 billion, a PE ratio of 13.05, a PEG ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 analysts’ expectations 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. As a group, sell-side analysts expect that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 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.