PACCAR Inc (NASDAQ:PCAR) Position Increased by Vestcor Inc

Vestcor Inc increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 14.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,794 shares of the company’s stock after acquiring an additional 2,565 shares during the period. Vestcor Inc’s holdings in PACCAR were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PCAR. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $37,000. Kestra Investment Management LLC bought a new stake in PACCAR in the 4th quarter valued at about $37,000. Regents Gate Capital LLP acquired a new position in PACCAR during the 4th quarter valued at about $44,000. OFI Invest Asset Management bought a new position in PACCAR in the 4th quarter worth about $43,000. Finally, Larson Financial Group LLC increased its stake in shares of PACCAR by 39.1% in the fourth quarter. Larson Financial Group LLC now owns 548 shares of the company’s stock valued at $57,000 after purchasing an additional 154 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Activity at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last quarter. 2.02% of the stock is owned by company insiders.

PACCAR Stock Up 0.8 %

NASDAQ PCAR opened at $99.21 on Friday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market capitalization of $52.07 billion, a P/E ratio of 12.54, a PEG ratio of 2.77 and a beta of 0.91. The company’s 50 day simple moving average is $107.17 and its 200 day simple moving average is $106.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is currently 16.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.77.

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.