Avestar Capital LLC Raises Stake in PACCAR Inc (NASDAQ:PCAR)

Avestar Capital LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 13.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,086 shares of the company’s stock after buying an additional 375 shares during the quarter. Avestar Capital LLC’s holdings in PACCAR were worth $330,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Madrona Financial Services LLC boosted its position in shares of PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after acquiring an additional 91 shares during the last quarter. Global Financial Private Client LLC boosted its position in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after acquiring an additional 97 shares during the last quarter. Omnia Family Wealth LLC boosted its position in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after acquiring an additional 98 shares during the last quarter. Insight Wealth Partners LLC boosted its position in shares of PACCAR by 1.4% in the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after acquiring an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in shares of PACCAR by 0.6% in the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after acquiring an additional 106 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 0.7 %

Shares of NASDAQ:PCAR opened at $105.96 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $108.52 and a 200 day simple moving average of $104.74. The firm has a market cap of $55.55 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts anticipate that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 15.17%.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,871 shares of company stock worth $14,586,333. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PCAR shares. Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Citigroup reduced their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.95.

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.