PACCAR Inc (NASDAQ:PCAR) Shares Purchased by PFG Advisors

PFG Advisors lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 8.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,793 shares of the company’s stock after purchasing an additional 384 shares during the period. PFG Advisors’ holdings in PACCAR were worth $499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in PACCAR in the fourth quarter worth approximately $37,000. Kestra Investment Management LLC purchased a new position in shares of PACCAR during the fourth quarter worth $37,000. Regents Gate Capital LLP purchased a new position in shares of PACCAR during the fourth quarter worth $44,000. OFI Invest Asset Management purchased a new position in shares of PACCAR during the fourth quarter worth $43,000. Finally, Larson Financial Group LLC boosted its position in shares of PACCAR by 39.1% during the fourth quarter. Larson Financial Group LLC now owns 548 shares of the company’s stock worth $57,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

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

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

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders 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 payout ratio is 16.69%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Truist Financial increased their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Evercore ISI cut their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.77.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

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.