Great Valley Advisor Group Inc. Purchases 17,013 Shares of PACCAR Inc (NASDAQ:PCAR)

Great Valley Advisor Group Inc. grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 65.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,928 shares of the company’s stock after purchasing an additional 17,013 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in PACCAR were worth $4,236,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PCAR. Quarry LP acquired a new stake in shares of PACCAR during the second quarter worth $26,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR during the 1st quarter worth about $27,000. Meeder Asset Management Inc. increased its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR in the 2nd quarter valued at about $36,000. Finally, Fortitude Family Office LLC raised its position in shares of PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 0.6 %

NASDAQ:PCAR opened at $114.75 on Friday. The stock has a 50-day simple moving average of $105.77 and a 200 day simple moving average of $103.02. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a market cap of $60.16 billion, a PE ratio of 12.82, a PEG ratio of 1.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

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 analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 EPS. On average, sell-side analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. PACCAR’s dividend payout ratio is 13.41%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PCAR shares. Morgan Stanley decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Citigroup increased their price target on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average price target of $117.64.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR 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 transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

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.