Park Avenue Securities LLC Has $2.42 Million Position in PACCAR Inc (NASDAQ:PCAR)

Park Avenue Securities LLC cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,262 shares of the company’s stock after selling 702 shares during the period. Park Avenue Securities LLC’s holdings in PACCAR were worth $2,420,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of PACCAR by 69.2% during the second quarter. Federated Hermes Inc. now owns 15,767 shares of the company’s stock worth $1,623,000 after buying an additional 6,448 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in PACCAR by 6.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,893 shares of the company’s stock valued at $915,000 after purchasing an additional 531 shares during the period. Blair William & Co. IL increased its holdings in shares of PACCAR by 5.0% during the 2nd quarter. Blair William & Co. IL now owns 27,322 shares of the company’s stock worth $2,813,000 after purchasing an additional 1,289 shares during the period. XTX Topco Ltd acquired a new position in shares of PACCAR during the second quarter valued at about $1,643,000. Finally, Intech Investment Management LLC lifted its stake in shares of PACCAR by 86.1% in the second quarter. Intech Investment Management LLC now owns 68,609 shares of the company’s stock valued at $7,063,000 after buying an additional 31,750 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR opened at $110.33 on Friday. 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’s 50 day simple moving average is $111.18 and its 200-day simple moving average is $103.97. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock has a market capitalization of $57.85 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93.

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

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 14.75%.

Insider Activity

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent research reports. Truist Financial upped their price target on PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a report on Thursday. Morgan Stanley lowered their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $120.13.

PACCAR Company 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.