NEOS Investment Management LLC Has $7.11 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

NEOS Investment Management LLC increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 25.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 68,343 shares of the company’s stock after buying an additional 13,742 shares during the quarter. NEOS Investment Management LLC’s holdings in PACCAR were worth $7,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in PACCAR during the fourth quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $37,000. OFI Invest Asset Management bought a new stake in PACCAR during the 4th quarter valued at approximately $43,000. Atala Financial Inc acquired a new stake in PACCAR in the 4th quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP bought a new position in PACCAR in the 4th quarter worth approximately $44,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

PCAR opened at $98.19 on Friday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a market capitalization of $51.54 billion, a PE ratio of 12.41, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a fifty day moving average price of $105.45 and a two-hundred day moving average price of $106.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. As a group, analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 represents a 26.80 % decrease in their position. 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.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Citigroup reduced their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and lowered their price target for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reduced their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and a consensus price target of $118.38.

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.