Merit Financial Group LLC Has $841,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Merit Financial Group LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 99.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,089 shares of the company’s stock after buying an additional 4,025 shares during the period. Merit Financial Group LLC’s holdings in PACCAR were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA grew its position in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. increased its stake in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the period. Erste Asset Management GmbH purchased a new stake in PACCAR in the 3rd quarter worth approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after buying an additional 576,532 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Down 0.2 %

Shares of NASDAQ:PCAR opened at $110.11 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock’s 50-day moving average is $110.97 and its 200-day moving average is $104.12. The company has a market cap of $57.73 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.78 and a beta of 0.93. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the business posted $2.34 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities research analysts predict that PACCAR Inc will post 7.93 earnings per share 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 issued a $3.00 dividend. 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 13.41%.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 in the last ninety days. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup lowered their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Finally, Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $120.13.

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.