Flagship Harbor Advisors LLC Has $227,000 Stake in PACCAR Inc (NASDAQ:PCAR)

Flagship Harbor Advisors LLC cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 49.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,183 shares of the company’s stock after selling 2,117 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in PACCAR were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Everence Capital Management Inc. acquired a new stake in PACCAR during the 4th quarter worth about $1,984,000. Sanctuary Advisors LLC grew its stake in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares during the period. Mengis Capital Management Inc. increased its holdings in PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC lifted its stake in PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PCAR. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.32.

PACCAR Trading Up 3.4 %

NASDAQ PCAR opened at $110.89 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $110.45 and a 200 day simple moving average of $104.45. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The firm has a market capitalization of $58.14 billion, a P/E ratio of 12.39, a PEG ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. On average, analysts predict that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

The company 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 of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

About PACCAR

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.