4,173 Shares in PACCAR Inc (NASDAQ:PCAR) Purchased by SVB Wealth LLC

SVB Wealth LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,173 shares of the company’s stock, valued at approximately $434,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Everence Capital Management Inc. purchased a new stake in PACCAR in the fourth quarter worth approximately $1,984,000. Sanctuary Advisors LLC increased its position in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. boosted its position 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 during the last quarter. Insight Wealth Strategies LLC grew its stake in shares of PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC increased its position 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 valued at $511,254,000 after purchasing an additional 89,245 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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 report on Tuesday, January 14th. Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup lowered 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 price target 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Trading Down 3.4 %

PCAR stock opened at $101.48 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The business has a 50 day simple moving average of $107.17 and a two-hundred day simple moving average of $105.93. The company has a market capitalization of $53.26 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed 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 positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

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.