IFP Advisors Inc lifted its position in PACCAR Inc (NASDAQ:PCAR – Free Report) by 18.3% in the fourth quarter, HoldingsChannel reports. The firm owned 952 shares of the company’s stock after buying an additional 147 shares during the period. IFP Advisors Inc’s holdings in PACCAR were worth $99,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of PCAR. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in PACCAR in the fourth quarter valued at about $37,000. Regents Gate Capital LLP acquired a new position in PACCAR in the fourth quarter valued at about $44,000. Ashton Thomas Securities LLC acquired a new position in PACCAR in the third quarter valued at about $52,000. Finally, AdvisorNet Financial Inc lifted its position in PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.
PACCAR Stock Down 3.4 %
PCAR stock opened at $101.48 on Wednesday. The company’s 50 day moving average price is $107.17 and its 200 day moving average price is $105.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm 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 – Get Free Report) last released 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%. On average, equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.
PACCAR Increases Dividend
The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. 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 is presently 16.69%.
Wall Street Analyst Weigh In
A number of research analysts have commented on PCAR shares. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, 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 report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.
Read Our Latest Analysis on PCAR
Insider Buying and Selling at PACCAR
In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01 % 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 over the last three months. Insiders own 2.02% of the company’s stock.
PACCAR Company Profile
(Free Report)
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.
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