Sage Mountain Advisors LLC Purchases New Holdings in PACCAR Inc (NASDAQ:PCAR)

Sage Mountain Advisors LLC purchased a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,478 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds have also made changes to their positions in PCAR. Net Worth Advisory Group lifted its position in PACCAR by 2.5% in the 4th quarter. Net Worth Advisory Group now owns 15,904 shares of the company’s stock worth $1,654,000 after buying an additional 386 shares in the last quarter. Claris Advisors LLC MO lifted its position in PACCAR by 1.5% in the 4th quarter. Claris Advisors LLC MO now owns 7,209 shares of the company’s stock worth $750,000 after buying an additional 108 shares in the last quarter. Independent Advisor Alliance lifted its position in PACCAR by 27.6% in the 4th quarter. Independent Advisor Alliance now owns 6,586 shares of the company’s stock worth $685,000 after buying an additional 1,425 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in PACCAR by 6.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 105,718 shares of the company’s stock worth $10,997,000 after buying an additional 6,573 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PACCAR by 10.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 214,064 shares of the company’s stock worth $22,267,000 after buying an additional 19,552 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $102.33 on Thursday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm’s fifty day simple moving average is $107.39 and its 200 day simple moving average is $106.29. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $53.70 billion, a PE ratio of 12.94, a PEG ratio of 2.77 and a beta of 0.91.

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 analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analysts Set New Price Targets

PCAR has been the subject of a number of research analyst reports. Evercore ISI cut their target price 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. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last ninety days. 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.