Beacon Harbor Wealth Advisors Inc. Grows Position in PACCAR Inc (NASDAQ:PCAR)

Beacon Harbor Wealth Advisors Inc. grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,506 shares of the company’s stock after buying an additional 561 shares during the period. PACCAR accounts for about 1.6% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 25th biggest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in PACCAR were worth $5,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James & Associates boosted its holdings in shares of PACCAR by 29.1% during the 3rd quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock worth $6,769,000 after purchasing an additional 17,953 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in PACCAR by 15.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 90,658 shares of the company’s stock valued at $7,708,000 after buying an additional 12,451 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of PACCAR in the 3rd quarter worth $30,000. Independent Advisor Alliance raised its holdings in shares of PACCAR by 673.2% during the 3rd quarter. Independent Advisor Alliance now owns 45,827 shares of the company’s stock worth $3,896,000 after acquiring an additional 39,900 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of PACCAR by 1.1% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 251,619 shares of the company’s stock worth $21,393,000 after acquiring an additional 2,700 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Insiders sold 62,117 shares of company stock worth $6,510,010 over the last 90 days. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PCAR shares. TD Cowen lifted their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Finally, Truist Financial reissued a “hold” rating and set a $121.00 price objective (up from $117.00) on shares of PACCAR in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average price target of $112.62.

PACCAR Stock Performance

PACCAR stock traded down $0.38 during trading hours on Thursday, reaching $105.96. 1,329,437 shares of the stock were exchanged, compared to its average volume of 2,417,828. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The stock has a market cap of $55.52 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. The firm’s 50 day moving average is $116.62 and its 200 day moving average is $102.36.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 earnings per share. Analysts predict that PACCAR Inc will post 8.23 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

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.