Lifeworks Advisors LLC Has $4.11 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Lifeworks Advisors LLC boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 18.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,657 shares of the company’s stock after purchasing an additional 6,439 shares during the period. Lifeworks Advisors LLC’s holdings in PACCAR were worth $4,111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of PACCAR in the second quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter valued at about $27,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR during the second quarter worth approximately $36,000. Finally, Fortitude Family Office LLC grew its stake in shares of PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 1.1 %

Shares of NASDAQ PCAR traded down $1.30 during midday trading on Thursday, reaching $115.50. 133,842 shares of the stock were exchanged, compared to its average volume of 2,631,167. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market capitalization of $60.56 billion, a price-to-earnings ratio of 13.05, 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 current ratio of 1.25 and a quick ratio of 1.03. The business has a 50-day simple moving average of $103.20 and a two-hundred day simple moving average of $102.75.

PACCAR (NASDAQ:PCAR) last posted its 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 return on equity of 27.24% and a net margin of 13.51%. The firm 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 company posted $2.34 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction that occurred on 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 directly owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on 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 $328,353.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several research analyst reports. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial boosted their target price on 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. decreased their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $116.55.

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.