Smart Money Group LLC Increases Position in PACCAR Inc (NASDAQ:PCAR)

Smart Money Group LLC increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,174 shares of the company’s stock after purchasing an additional 438 shares during the quarter. Smart Money Group LLC’s holdings in PACCAR were worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after acquiring an additional 1,164,692 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of PACCAR during the third quarter worth approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after purchasing an additional 576,532 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last 90 days. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $110.33 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a market cap of $57.85 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.72 and a beta of 0.93. The stock has a 50-day moving average of $111.10 and a two-hundred day moving average of $104.05. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS. As a group, analysts anticipate that PACCAR Inc will post 7.92 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 13.41%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent research reports. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Citigroup cut their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $120.13.

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.