Signaturefd LLC Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Signaturefd LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,129 shares of the company’s stock after purchasing an additional 359 shares during the quarter. Signaturefd LLC’s holdings in PACCAR were worth $598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lindbrook Capital LLC grew its position in PACCAR by 24.5% during the fourth quarter. Lindbrook Capital LLC now owns 2,429 shares of the company’s stock worth $237,000 after buying an additional 478 shares in the last quarter. abrdn plc grew its position in PACCAR by 50.9% during the fourth quarter. abrdn plc now owns 264,756 shares of the company’s stock worth $25,853,000 after buying an additional 89,359 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in PACCAR by 42.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 13,810 shares of the company’s stock worth $1,349,000 after buying an additional 4,146 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in PACCAR during the fourth quarter worth about $133,000. Finally, Greenleaf Trust grew its position in PACCAR by 1.6% during the fourth quarter. Greenleaf Trust now owns 11,304 shares of the company’s stock worth $1,104,000 after buying an additional 178 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent analyst reports. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Truist Financial started coverage on PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 price target for the company. Evercore ISI lifted their price target on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Stock Up 0.7 %

PCAR stock opened at $113.32 on Wednesday. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The business’s 50 day moving average price is $116.26 and its two-hundred day moving average price is $101.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a market capitalization of $59.38 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. As a group, analysts forecast that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. PACCAR’s payout ratio is currently 12.31%.

PACCAR Company 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.