Edge Capital Group LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,395 shares of the company’s stock, valued at approximately $1,809,000.
Other large investors have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $1,984,000. Sanctuary Advisors LLC raised its holdings in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. raised its holdings in PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Stock Down 1.9 %
Shares of PCAR stock opened at $104.46 on Monday. The stock has a market cap of $54.82 billion, a P/E ratio of 13.21, a PEG ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $107.50 and its two-hundred day simple moving average is $105.34.
PACCAR Increases Dividend
The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost 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 currently 16.69%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on PCAR shares. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.77.
Read Our Latest Stock Analysis on PACCAR
Insider Activity
In related news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. 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.
See Also
- Five stocks we like better than PACCAR
- Ride Out The Recession With These Dividend KingsĀ
- Why Genuine Parts Company Is a Royally Good Buy Right Now
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Industrials Are Quietly Outpacing the Market: 3 Stocks to Watch
- What Are the FAANG Stocks and Are They Good Investments?
- These 5 Energy Stocks Hedge Inflation With Growth Potential
Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCAR – Free Report).
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.