Wedbush Securities Inc. Sells 1,557 Shares of PACCAR Inc (NASDAQ:PCAR)

Wedbush Securities Inc. reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,314 shares of the company’s stock after selling 1,557 shares during the quarter. Wedbush Securities Inc.’s holdings in PACCAR were worth $1,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $37,000. OFI Invest Asset Management purchased a new position in PACCAR in the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc bought a new position in PACCAR in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

NASDAQ PCAR opened at $90.88 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business’s fifty day moving average is $103.74 and its 200 day moving average is $106.71. The company has a market capitalization of $47.71 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $86.74 and a fifty-two week high of $123.20.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Analysts Set New Price Targets

PCAR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup dropped their target price on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $117.54.

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.