Impact Partnership Wealth LLC Has $858,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Impact Partnership Wealth LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 27.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,690 shares of the company’s stock after buying an additional 1,883 shares during the period. Impact Partnership Wealth LLC’s holdings in PACCAR were worth $858,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PCAR. New Covenant Trust Company N.A. bought a new position in PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co bought a new position in shares of PACCAR during the first quarter worth approximately $29,000. Quarry LP bought a new position in shares of PACCAR during the second quarter worth approximately $26,000. Meeder Asset Management Inc. increased its holdings in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR during the second quarter worth approximately $36,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 0.6 %

Shares of NASDAQ:PCAR traded up $0.62 during midday trading on Thursday, hitting $104.42. 98,887 shares of the company’s stock were exchanged, compared to its average volume of 2,632,876. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The stock has a 50 day moving average price of $98.98 and a 200-day moving average price of $103.41. The company has a market cap of $54.74 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company 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. This represents a $1.20 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.71%.

Analysts Set New Price Targets

Several analysts recently issued reports on PCAR shares. JPMorgan Chase & Co. reduced 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. Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup increased their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Truist Financial increased their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday. Nine 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, the company has an average rating of “Hold” and a consensus target price of $114.18.

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.