Capital Investment Counsel Inc Decreases Stock Position in PACCAR Inc (NASDAQ:PCAR)

Capital Investment Counsel Inc cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,725 shares of the company’s stock after selling 950 shares during the period. Capital Investment Counsel Inc’s holdings in PACCAR were worth $908,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in PACCAR during the 4th quarter valued at $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR during the 4th quarter valued at $37,000. Regents Gate Capital LLP purchased a new stake in PACCAR during the 4th quarter valued at $44,000. Ashton Thomas Securities LLC purchased a new stake in PACCAR during the 3rd quarter valued at $52,000. Finally, AdvisorNet Financial Inc raised its stake in PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCAR has been the subject of a number of research reports. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. 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 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Trading Down 0.7 %

Shares of PCAR stock opened at $106.46 on Friday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The firm has a market capitalization of $55.82 billion, a PE ratio of 13.46, a PEG ratio of 2.79 and a beta of 0.92. The stock has a fifty day simple moving average of $107.67 and a two-hundred day simple moving average of $105.07.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results 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 return on equity of 23.53% and a net margin of 12.36%. On average, analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. 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 presently 16.69%.

Insiders Place Their Bets

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