Soundwatch Capital LLC Makes New $371,000 Investment in PACCAR Inc. $PCAR

Soundwatch Capital LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,898 shares of the company's stock, valued at approximately $371,000.

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A number of other large investors have also recently made changes to their positions in PCAR. Brighton Jones LLC raised its stake in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after acquiring an additional 290 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of PACCAR by 15.1% in the first quarter. AE Wealth Management LLC now owns 27,585 shares of the company's stock worth $2,686,000 after purchasing an additional 3,626 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of PACCAR by 13.1% during the first quarter. Avantax Advisory Services Inc. now owns 16,687 shares of the company's stock worth $1,625,000 after purchasing an additional 1,939 shares during the period. Cetera Investment Advisers lifted its holdings in shares of PACCAR by 6.7% during the first quarter. Cetera Investment Advisers now owns 47,027 shares of the company's stock worth $4,579,000 after purchasing an additional 2,952 shares during the period. Finally, Assetmark Inc. boosted its position in PACCAR by 2.5% in the first quarter. Assetmark Inc. now owns 344,886 shares of the company's stock valued at $33,582,000 after buying an additional 8,271 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the company's stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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A number of equities analysts have issued reports on the stock. UBS Group set a $103.00 price target on shares of PACCAR and gave the stock a "neutral" rating in a research report on Wednesday, October 22nd. Raymond James Financial reaffirmed a "market perform" rating on shares of PACCAR in a report on Tuesday, October 21st. Zacks Research cut shares of PACCAR from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Wall Street Zen downgraded shares of PACCAR from a "hold" rating to a "sell" rating in a report on Saturday, October 25th. Finally, Morgan Stanley set a $90.00 target price on PACCAR in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $106.54.

Read Our Latest Stock Analysis on PCAR

PACCAR Stock Up 5.5%

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Shares of PCAR opened at $102.99 on Friday. The company's 50-day simple moving average is $98.01 and its 200-day simple moving average is $96.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a market capitalization of $54.09 billion, a PE ratio of 20.15, a P/E/G ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $7.24 billion for the quarter, compared to analysts' expectations of $6.23 billion. During the same period in the previous year, the company earned $1.85 earnings per share. PACCAR's quarterly revenue was down 20.7% on a year-over-year basis. Analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's dividend payout ratio (DPR) is 25.83%.

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.

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