First Trust Direct Indexing L.P. Purchases 1,528 Shares of PACCAR Inc (NASDAQ:PCAR)

First Trust Direct Indexing L.P. grew its position in PACCAR Inc (NASDAQ:PCAR) by 12.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,663 shares of the company’s stock after purchasing an additional 1,528 shares during the period. First Trust Direct Indexing L.P.’s holdings in PACCAR were worth $1,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PCAR. Federated Hermes Inc. boosted its position in PACCAR by 51.6% during the 3rd quarter. Federated Hermes Inc. now owns 3,833 shares of the company’s stock worth $326,000 after acquiring an additional 1,305 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in PACCAR during the third quarter worth $1,501,000. Advisors Asset Management Inc. grew its position in PACCAR by 21.3% in the third quarter. Advisors Asset Management Inc. now owns 8,732 shares of the company’s stock valued at $742,000 after purchasing an additional 1,532 shares in the last quarter. Ameriprise Financial Inc. increased its stake in PACCAR by 44.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 902,890 shares of the company’s stock valued at $76,766,000 after buying an additional 278,054 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in PACCAR by 521.8% during the 3rd quarter. Alps Advisors Inc. now owns 27,323 shares of the company’s stock worth $2,323,000 after buying an additional 22,929 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCAR shares. Truist Financial decreased their price objective on PACCAR from $121.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. The Goldman Sachs Group increased their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. StockNews.com downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $113.92.

PACCAR Stock Performance

Shares of PCAR stock traded up $1.09 during midday trading on Thursday, hitting $102.00. 1,860,059 shares of the company were exchanged, compared to its average volume of 2,897,979. PACCAR Inc has a 52 week low of $80.91 and a 52 week high of $125.50. The firm has a market capitalization of $53.46 billion, a P/E ratio of 10.58, a PEG ratio of 1.21 and a beta of 0.92. The firm’s 50 day moving average price is $106.90 and its two-hundred day moving average price is $107.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that PACCAR Inc will post 8.34 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio is currently 12.45%.

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock worth $4,779,241 in the last 90 days. Company insiders own 2.02% of the company’s stock.

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.