PACCAR Inc (NASDAQ:PCAR) is Mengis Capital Management Inc.’s 4th Largest Position

Mengis Capital Management Inc. decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 26.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 141,542 shares of the company’s stock after selling 49,615 shares during the quarter. PACCAR comprises approximately 3.0% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Mengis Capital Management Inc.’s holdings in PACCAR were worth $14,723,000 at the end of the most recent quarter.

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

PACCAR Price Performance

PACCAR stock opened at $106.25 on Tuesday. The business has a 50 day simple moving average of $107.38 and a 200-day simple moving average of $105.43. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market capitalization of $55.76 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. 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 announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. 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 dividend payout ratio is currently 16.69%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PCAR shares. Truist Financial boosted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. 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 note on Wednesday, February 19th. Citigroup reduced their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last quarter. 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.