Synergy Asset Management LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Synergy Asset Management LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,768 shares of the company’s stock, valued at approximately $285,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PSI Advisors LLC acquired a new stake in PACCAR in the first quarter valued at $25,000. YHB Investment Advisors Inc. bought a new stake in shares of PACCAR in the 1st quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co bought a new position in shares of PACCAR during the first quarter worth about $29,000. Finally, Rise Advisors LLC acquired a new position in PACCAR in the first quarter worth about $31,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PCAR shares. Truist Financial reduced their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Citigroup reduced their price target on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Evercore ISI lowered their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Eight investment 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, the stock has a consensus rating of “Hold” and a consensus target price of $112.73.

PACCAR Stock Performance

NASDAQ:PCAR traded up $1.65 during mid-day trading on Friday, hitting $94.22. The stock had a trading volume of 51,369 shares, compared to its average volume of 2,621,094. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a 50 day simple moving average of $98.25 and a 200-day simple moving average of $107.32. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 1.49 and a beta of 0.91. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.33 EPS. On average, research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, August 15th. PACCAR’s payout ratio is currently 12.45%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

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.